Sec. 12. (1) Except as otherwise provided in subsection (2), as nearly as is practicable, not less than 45% of the total annual revenue accruing from the sale of lottery tickets or shares shall be apportioned for payment of prizes to the holders of winning tickets or shares. (2) Notwithstanding subsection (1), the prize money from the sale of tickets or shares of any joint enterprise is that percentage of the total annual revenue accrued from that game as prescribed by the joint enterprise participation agreement executed by the commissioner.
Mich. Comp. Laws § 432.12
Apportionment of revenue for payment of prizes; percentage
Known as the McCauley-Traxler-Law
The act spans §§ 432.1 to 432.9 (31 sections).
Applied in 1 court decision — leading case 662 F. Supp. 139 - National Recovery System v. Kasle (1987)
Most recently applied in 662 F. Supp. 139 - National Recovery System v. Kasle (June 1987)
1972, Act 239, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.