6.1
Grand
Prize
6.1.1 The prize money allocated
from the current Mega Millions prize pool for the Grand Prize, plus any
previous portions of prize money allocated to the Grand Prize category in which
no matching MM Plays or JJ Plays were sold will be divided equally among all
Grand Prize winning MM Plays and JJ Plays in all Participating Lotteries. The
annuity Grand Prize amount will be paid in thirty (30) graduated annual
installments. Grand Prizes won shall be funded by the Selling Lotteries in
accordance with the formula set by the Mega Millions lotteries. The Mega
Millions lotteries may set a minimum guaranteed annuity Grand Prize amount that
shall be advertised by the selling lotteries as the starting guaranteed annuity
Grand Prize amount.
6.1.2
Rollover.If, in any Mega Millions drawing there are no MM Plays or
JJ Plays that qualify for the Grand Prize category, the portion of the prize
fund allocated to such Grand Prize category shall remain in the Grand Prize
category and be added to the amount allocated for the Grand Prize category in
the next consecutive Mega Millions drawing.
6.1.3 Unless there is a different Party
Lottery rule, Grand Prizes shall be paid, at the election of the player made no
later than sixty (60) days after the player becomes entitled to the prize, with
either a per winner annuity or cash payment. If the payment election is not
made by the player within sixty (60) days after the player becomes entitled to
the prize, then the prize shall be paid as an annuity prize. The election to
take the cash value option may be made within sixty (60) days after the player
becomes entitled to the prize. An election made after the winner becomes
entitled to the prize is final and cannot be revoked, withdrawn or otherwise
changed.
6.1.4 In the event of a
prize winner who selects the cash value option, the prize winner's share shall
be paid in a single payment upon completion of internal validation procedures.
The cash value option shall be determined by the Mega Millions
Lotteries.
6.1.5 Graduated annual
payment option Grand Prize prizes shall be paid in thirty (30) graduated annual
installments upon completion of internal validation procedures. The initial
payment shall be paid upon completion of internal validation procedures. The
subsequent twenty-nine (29) payments shall be paid graduated annually to
coincide with the month of the Federal auction date on which the bonds were
purchased to fund the annuity, with graduated annual installments defined in
the Mega Millions Lotteries' Finance and Operations Procedures. Payments shall
escalate by a factor of five percent (5%) annually, and annual payments shall
be rounded down to the nearest even one thousand dollars ($1,000.00) increment.
All such payments shall be made within seven (7) days of the anniversary of the
annual auction date.
6.1.6 If
individual shares of the Grand Prize Pool held to fund an annuity is less than
two hundred fifty thousand dollars ($250,000.00), the Product Group, in its
sole discretion, may elect to pay the winners their share of the cash held in
the Grand Prize pool.
6.1.7 Funds
for the initial payment of an annuitized prize or the cash value option prize
shall be made available by MUSL for payment by the Party Lottery on a schedule
approved by the Product Group. If necessary, when the due date for the payment
of a prize occurs before the receipt of funds in the prize pool trust
sufficient to pay the prize, the transfer of funds for the payment of the full
cash value option amount may be delayed pending receipt of funds from the Party
Lotteries or other lotteries participating in the Mega Millions Game. A Party
Lottery may elect to make the initial payment from its own funds after
validation, with notice to MUSL.
6.1.8 In the event of the death of a lottery
winner sold by a Party Lottery during the annuity payment period, unless
prohibited by jurisdictional law, MUSL Finance & Audit Committee, in its
sole discretion excepting a discretionary review by the Product Group, upon the
petition of the estate of the lottery winner (the "Estate") to the lottery of
the jurisdiction in which the deceased lottery winner purchased the winning
Play, and subject to federal, state, district or territorial applicable laws,
may accelerate the payment of all of the remaining lottery proceeds to the
Estate. If such a determination is made, then securities and/or cash held to
fund the deceased lottery winner's annuitized prize may be distributed to the
Estate. The identification of the securities to fund the annuitized prize shall
be at the sole discretion of the Finance & Audit Committee or the Product
Group.
6.1.9 If a Party Lottery
purchases or holds the prize payment annuity for a prize won in that
jurisdiction, that Party Lottery's game rules, and any prize payment agreement
with the prize winner, shall indicate that the prize winner has no recourse on
the MUSL or any other Party Lottery for payment of that prize.
6.2
Prize Payments.
All prizes shall be paid through the Selling Lottery that sold the
winning Plays, and at the discretion of the Selling Lottery may be paid by
cash, checks, warrants or electronic transfers.
A Party Lottery may begin paying low-tier prizes after
receiving authorization to pay from MUSL central office.
6.3
Prizes Rounded.Annuitized
payments of the Grand Prize or a share of the Grand Prize may be rounded to
facilitate the purchase of an appropriate funding mechanism. Breakage on an
annuitized Grand Prize win shall be added to the first payment to the winner or
winners.
Prizes other than the Grand Prize that, under these rules,
may become single-payment, pari-mutuel prizes, may be rounded down so that
prizes can be paid in multiples of whole dollars. Breakage resulting from
rounding these prizes shall be carried forward to the prize pool for the next
drawing.
6.6
Limited
to Highest Prize Won.The holder of a winning MM Play may win only one
(1) prize per Play in connection with the winning numbers drawn, and shall be
entitled only to the prize won by those numbers in the highest matching prize
category. A JJ Play is not eligible to win non-Grand Prizes/non-Jackpot prizes.
All liability for a Mega Millions prize are discharged upon payment of a prize
claim.
6.7
Prize Claim
Period.Prize claims shall be submitted within the period set by the
Party Lottery selling the Play, which in Maine is one (1) year from the prize
eligibility date. The prize eligibility date is the date of the winning
draw.
