§ 67.70.250. Methods for payment of prizes by installments
If the director decides to pay any portion of or all of the prizes in the form of installments over a period of years, the director shall provide for the payment of all such installments for any specific lottery game by one, but not both, of the following methods:
(1) The director may enter into contracts with any financially responsible person or firm providing for the payment of such installments; or
(2) The director may establish and maintain a reserve account into which shall be placed sufficient moneys for the director to pay such installments as they become due. Such reserve account shall be maintained as a separate and independent fund outside the state treasury.
[1987 c 511 § 11; 1982 2nd ex.s. c 7 § 25.]
Sections: Previous 67.70.190 67.70.200 67.70.210 67.70.220 67.70.230 67.70.240 67.70.241 67.70.250 67.70.255 67.70.260 67.70.270 67.70.280 67.70.290 67.70.300 67.70.310 NextLast modified: April 7, 2009