Definitions.
Ark. Code Ann. § 23-120-103
in effectAs used in this chapter:
(1) “Affiliated nonprofit organization” means an organization established by or an authorized affiliate of an institution of higher education within the State of Arkansas that:
(A) Was created for the purpose of raising funds for the institution of higher education’s collegiate athletic program;
(B) Has been approved for tax-exempt status under the Internal Revenue Code, 26 U.S.C. § 501(c)(3), as in effect on January 1, 2025; and
(C) Has been in continuing existence as a nonprofit tax- exempt organization in the State of Arkansas at least five (5) years immediately prior to conducting a raffle;
(2) “Qualifying organization” means an institution of higher education within the State of Arkansas or an affiliated nonprofit organization; and
(3) “Raffle” means the selling of tickets or chances to win a prize awarded through a random drawing.
Source: Arkansas General Assembly, Acts of 2021-2026 (arkleg.state.ar.us)URL: https://arkleg.state.ar.us/Acts/FTPDocument?path=%2FACTS%2F2025R%2FPublic%2F&file=305.pdf&ddBienniumSession=2025%2F2025RFetched: 11/8/2026