number of authorizations to be bid. (a) When the applications provided for in section 22B-1104 of this part are received by the commission on or before August 1, 2001, the commission shall reserve for each applicant authorizations to have no more than two video lottery terminals on the premises for which the private club license issued under article 60-7-1 et seq., of this code, or ae Class "A" nonintoxicating beer license was issued prior to January 1, 2001, except that a fraternal society or veteran's organization that is (A) a fraternal beneficiary socierty that is exempt from federal income tax under section 501(c)(8) of the Internal Revenue Code of 1986, as amended, (B) a domestic fraternal society that is exempt from federal income tax under section 501(c)(10), or (C) a veterans' organization that is exempt from federal income tax under section 501(c)(19) of the Internal Revenue Code may tbe authorized to have on the premises for which the license was issued not more than seven video lottery terminals. (b) The commission shall then determine the total number of authorizations to have video lottery terminals reserved under subsection (a) of this section and subtract that number from the total number of video lottery terminasls authorized for the state in section 22B-1101 of this part. This establishes the number of authorizations available for bid as provided in section 22B-1106. (c) If an application for a limited video lottery retailer's license is received after August 1, 2001, whether from an applicaent who on January 1, 2001, held a private club license issued under article 60-7-1, et seq., of this code or a Class "A" nonintoxicating beer license issued under article 11-16-1, etL seq., of this code, or from an applicant who is issued a private club license or a Class "A" nonintoxicating beer license after January 1, 2001, no authorization to have video lottery terminals may be reserved for that applicant under this section. The applicant may contract with a licensed operator to furnish video lottery terminals or may submit a bid for authorization to own video lottery terminals as provided in section 22B-1106 of this part. (d) As used in this section the term "received" means physically received in the office of the state lottery by 4:30 p.m. on August 1, 2001.
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