Section 12.04 - Record Keeping, Financial Control(1) A record keeper shall be designated from among the members of the organization as defined at 940 CMR 12.01 and shall have been a member for a minimum of two years prior to the commencement of the raffle. The record keeper or his designee shall be responsible for the keeping and distribution of raffle tickets to be sold, the safekeeping of paid for and completed ticket stubs, and the maintenance of the records prescribed by 940 CMR 12.04 during and after the completion or suspension of the raffle for a period of at least two years.(2) The raffle ticket shall have at least two parts, one of which is to be retained by the purchaser, and the other to be retained by the record keeper. The record keeper's part must at a minimum contain the purchaser's name, address, and the telephone number. All such parts shall be imprinted with sequential serial numbers commencing with the numeral "1" through the maximum number of tickets to be sold. Both copies shall bear the signatures of both the seller and the purchaser of the ticket.(3) The record keeper shall maintain and periodically update as the need arises, the following types of records: (a) a list of members of the sponsoring organization;(b) a list of members authorized to sell raffle tickets or participating in any way in the promotion or operation of the raffle;(c) all documents, bills of sale, agreements, appraisals or other documents concerning the purchase of the article or articles to be raffled;(d) all permits, licenses, and any other documents prescribed or required by law as necessary for the lawful conduct of a raffle;(e) a ledger book or other suitable record keeping device listing the serial number of the ticekt sold, the purchaser's name and addrees, and the date purchased. Such entries shall be made upon receipt of the ticket part from the selling member or members and will be maintained in such a way as to permit a calculation at any time, of the number of tickets sold to date;(f) the ticket stubs used to conduct the drawing for a period of not less than two years.(4) Financial records shall be maintained by the record keeper sufficient to show: (a) the current amount of proceeds received on account or the raffle;(b) all expenses related to the conduct of the raffle including printing costs, advertising costs, lawyers fees, appraisal costs, insurance premiums, and any other costs reasonably attributable to the raffle.