The corporation shall require each lottery retailer to post a letter of credit or a bond with the corporation using a surety acceptable to the corporation in an amount not to exceed twice the average lottery ticket sales of the lottery retailer for the period within which the lottery retailer is required to remit lottery funds to the corporation. This section does not apply to lottery tickets which are prepaid by the lottery retailers. The corporation may facilitate the purchase of bonds and letters of credit by establishing lottery retailer pools for the purchase of bonds and letters of credit for lottery retailers.
Miss. Code Ann. § 27-115-59
Lottery retailer to post bond or letter of credit
Known as the Alyce G. Clarke Mississippi Lottery Law
The act spans §§ 27-115-1–27-115-91 (46 sections).
Laws, 2018, 1st Ex Sess, ch. 2, § 30, eff from and after September 1, 2018.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.