State Codes and Statutes

Statutes > Washington > Title-67 > 67-70 > 67-70-250

Methods for payment of prizes by installments.

If the director decides to pay any portion of or all of the prizes in the form of installments over a period of years, the director shall provide for the payment of all such installments for any specific lottery game by one, but not both, of the following methods:

(1) The director may enter into contracts with any financially responsible person or firm providing for the payment of such installments; or

(2) The director may establish and maintain a reserve account into which shall be placed sufficient moneys for the director to pay such installments as they become due. Such reserve account shall be maintained as a separate and independent fund outside the state treasury.

[1987 c 511 § 11; 1982 2nd ex.s. c 7 § 25.]

State Codes and Statutes

Statutes > Washington > Title-67 > 67-70 > 67-70-250

Methods for payment of prizes by installments.

If the director decides to pay any portion of or all of the prizes in the form of installments over a period of years, the director shall provide for the payment of all such installments for any specific lottery game by one, but not both, of the following methods:

(1) The director may enter into contracts with any financially responsible person or firm providing for the payment of such installments; or

(2) The director may establish and maintain a reserve account into which shall be placed sufficient moneys for the director to pay such installments as they become due. Such reserve account shall be maintained as a separate and independent fund outside the state treasury.

[1987 c 511 § 11; 1982 2nd ex.s. c 7 § 25.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Washington > Title-67 > 67-70 > 67-70-250

Methods for payment of prizes by installments.

If the director decides to pay any portion of or all of the prizes in the form of installments over a period of years, the director shall provide for the payment of all such installments for any specific lottery game by one, but not both, of the following methods:

(1) The director may enter into contracts with any financially responsible person or firm providing for the payment of such installments; or

(2) The director may establish and maintain a reserve account into which shall be placed sufficient moneys for the director to pay such installments as they become due. Such reserve account shall be maintained as a separate and independent fund outside the state treasury.

[1987 c 511 § 11; 1982 2nd ex.s. c 7 § 25.]