§ 1611 — Delivery of funds; designation of banks

New York § 1611

• Jurisdiction: New York
• Law TAX: Tax
• Art. 34: New York State Lottery For Education

Text

§ 1611. Delivery of funds; designation of banks. a. Except as\notherwise provided in this section, all moneys received by any and all\nlottery sales agents from the sales of lottery tickets, including any\nlottery tickets, for the support of winter sports physical education in\ncommemoration of the XIII olympic winter games if any, less the amount,\nif any, retained pursuant to paragraph nine of subdivision a of section\nsixteen hundred four of this article shall be delivered to the division.\nThe division shall immediately deposit to its credit all such moneys\nreceived in banks, banking houses or trust companies designated by the\ncommissioner and the comptroller. The division in its discretion, may\nrequire any or all lottery sales agents to deposit such moneys to the\ndivision's credit in banks, banking houses or trust companies designated\nby it, with the approval of the commissioner and the comptroller and to\nfile with the division reports of their receipts and transactions in the\nsale of lottery tickets in such form and containing such information as\nthe division may require. The withdrawal, pursuant to section sixteen\nhundred twelve of this article, of moneys so deposited by the division\nor lottery sales agents shall be subject to a check signed by the\ndirector or such officers or employees of the division as the director\nmay designate.\n b. The division may make arrangements for any person, including a\nbank, banking house or trust company, to perform such functions,\nactivities or services in connection with the operation of the lottery\nas the division may prescribe and such functions, activities and\nservices shall constitute lawful functions, activities and services of\nsuch person.\n