New York Codes, Rules and Regulations
Title 19 - DEPARTMENT OF STATE
Chapter III - Administration
Subchapter A - Bureau Of State Records And Law
Part 132 - Use Of Games Of Chance In Selling Commodities
Section 132.4 - Trust accounts and surety bonds

Current through Register Vol. 46, No. 12, March 20, 2024

Where prizewinning objects are distributed to retail establishments in a substantially uniform ratio to the number of participating objects or entries, the total value of prizes offered may be calculated as:

A = (N/T) (V) + P

where A is the amount of the bond to be posted or trust account to be maintained;

N is the total number of objects distributed in New York or the projected number of entries from New York;

T is the total number of objects distributed or the projected number of entries in the game;

V is the total retail value of all prizes offered; and

P1, P2, P3, P4, and P5 are respectively the retail values of the first, second, third, fourth and fifth largest prizes.

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