CHAPTER 10. BANK DEPOSITS AND CONTROL OF LOTTERY TRANSACTIONS
IC 4-30-10
Chapter 10. Bank Deposits and Control of Lottery Transactions
IC 4-30-10-1
Remittance of funds to commission; deposit of funds in public
depository; receipt of funds
Sec. 1. All money received by each retailer from the operation of
the lottery, including all ticket sales, interest, gifts, and donations,
less the amount retained as compensation for the sale of tickets and
the amount paid out as prizes, shall be remitted to the commission or
deposited in a public depository, at the times and as directed by the
commission. The commission is responsible for all administrative
functions related to the receipt of funds. The commission may
require each retailer to file with the commission reports of the
retailer's receipts and transactions in the sale of lottery tickets in the
form and containing the information the commission requires. The
commission may require any person, including a qualified public
depository, to perform any function, activity, or services in
connection with the operation that the commission determines to be
advisable under this article. These functions, activities, or services
constitute lawful functions, activities, and services of the person.
As added by P.L.341-1989(ss), SEC.1.
IC 4-30-10-2
Electronic funds transfer accounts
Sec. 2. The commission may require retailers to establish separate
electronic funds transfer accounts for the purpose of receiving money
from ticket sales, making payments to the commission, and receiving
payments from the commission.
As added by P.L.341-1989(ss), SEC.1.
IC 4-30-10-3
Liability of retailer for tickets accepted or generated
Sec. 3. Each retailer is liable to the commission for any and all
tickets accepted or generated by an employee or representative of
that retailer. These tickets are considered to have been purchased by
the retailer, unless returned to the commission within the time and in
the manner prescribed by the commission. All money received by
retailers from the sale of lottery tickets, less the amount retained as
compensation for the sale of the tickets and the amount paid out as
prizes by the retailer, shall be held in trust until its delivery to the
commission or electronic transfer to the administrative trust fund.
As added by P.L.341-1989(ss), SEC.1.