New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 20 - RULES OF THE LOTTERY COMMISSION
Subchapter 6 - AGENT DISTRIBUTION AND SALE OF TICKETS AND DEPOSIT OF LOTTERY MONIES
Section 17:20-6.3 - Agent deposit of lottery monies

Universal Citation: NJ Admin Code 17:20-6.3

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Agents, including affiliate agents, shall remit net lottery receipts to the bank on the dates specified by the lottery. Affiliate agents are additionally required to collect the net lottery receipts from their associated courier service in sufficient time to deposit the funds in said bank by the dates specified by the lottery. Notwithstanding the rules of any specific game to the contrary, the Director may, in the exercise of discretion, require the agent to account fully for any and all tickets issued to that agent and to remit immediately all sums due the Lottery.

(b) Monies received by an agent from the sale of tickets are the property of the Lottery and are held by the agent in trust for the Lottery. The agent shall immediately segregate all monies received from the sale of tickets, and shall hold such monies in express trust for the Lottery in a bank account specifically designated as a New Jersey Lottery account.

(c) The agent shall be absolutely liable for payment of such monies to the Lottery notwithstanding the degree of care exercised with respect to such monies by the agent.

(d) The agent shall keep current records of all operations in conformity with the Act and this chapter, and such other instructions as may be issued by the Director.

(e) All agent lottery operations, reports, and records shall be subject, upon demand, to inspection and audit by representatives of the Lottery, but such reports and records shall remain confidential for all other purposes except income tax reporting required by law.

(f) The bank shall provide the Lottery with a statement of all transactions as required.

(g) Net settlements due to the Lottery shall bear interest at the legal rate from the date payment is due until it is received by the Lottery; however, the Director may establish grace periods for payment without the accrual of such interest.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.