Virginia Administrative Code
Title 11 - GAMING
Agency 5 - VIRGINIA LOTTERY BOARD
Chapter 20 - ADMINISTRATION REGULATIONS
Part II - Banks and Depositories
Section 11VAC5-20-80 - Approval of banks

Universal Citation: 1 VA Admin Code 5-20-80

Current through Register Vol. 41, No. 3, September 23, 2024

A. The State Treasurer, with the concurrence of the director, and in accordance with applicable Treasury directives, shall approve a bank or banks to provide services to the agency.

B. A bank or banks shall serve as agent or agents for electronic funds transfers between the agency and lottery retailers as required by 11VAC5-20, 11VAC5-31, and 11VAC5-41 and by contracts between the agency, the State Treasury, retailers, and the banks.

Statutory Authority: §§ 2.2-4007.02 and 58.1-4007 of the Code of Virginia (11VAC5-11-10, 11VAC5-11-20) .

§ 58.1-4007 of the Code of Virginia (all other sections).

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