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This entry was published on 2014-09-22
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SECTION 241
Disposition of unpaid money due on account of pari-mutuel tickets not presented
Racing, Pari-Mutuel Wagering and Breeding Law (PML) CHAPTER 47-A, ARTICLE 2
§ 241. Disposition of unpaid money due on account of pari-mutuel
tickets not presented. The sum held by any corporation authorized to
conduct pari-mutuel betting for payment of outstanding winning
pari-mutuel tickets and for refunding the price of pari-mutuel tickets
shall be retained by such corporation for such purposes until April
first of the succeeding year; provided, however, that ninety-five per
centum of such sum remaining unclaimed as of the last day of February of
such year shall be paid to the department of taxation and finance by
March fifteenth. On April tenth, the balance of such sum remaining
unclaimed and any other unclaimed amount received in the course of
conducting pari-mutuel betting shall be paid to the department of
taxation and finance. A penalty of five per centum and interest at the
rate of one per centum per month from the due date to the date of
payment of the unclaimed balance due March fifteenth or April tenth, as
the case may be, shall be payable in case such balance is not paid when
due. Such amounts, interest and penalties when collected shall be paid
by the department of taxation and finance into the general fund of the
state treasury.