Tex.
Occ. Code Section 2002.056
Restrictions on Prizes
(a)
A prize offered or awarded at a raffle may not be money.(b)
Except as provided by Subsections (b-1) and (c), the value of a prize offered or awarded at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $75,000.(b-1)
The value of a residential dwelling offered or awarded as a prize at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $750,000.(c)
A raffle prize may consist of one or more tickets in the state lottery authorized by Chapter 466 (State Lottery), Government Code, with a face value of $75,000 or less, without regard to whether a prize in the lottery game to which the ticket or tickets relate exceeds $75,000.(d)
A raffle is not authorized by this chapter unless the organization:(1)
has the prize to be offered in the raffle in its possession or ownership; or(2)
posts bond with the county clerk of the county in which the raffle is to be held for the full amount of the money value of the prize.
Source:
Section 2002.056 — Restrictions on Prizes, https://statutes.capitol.texas.gov/Docs/OC/htm/OC.2002.htm#2002.056 (accessed Jun. 5, 2024).
