Section 6-24-16 - Termination of lottery retailer contracts. - New Mexico Statutes

6-24-16. Termination of lottery retailer contracts.

A.     Any lottery retailer contract executed by the authority pursuant to the New Mexico Lottery Act [6-24-1 NMSA 1978] shall specify the reasons for which a contract may be terminated by the authority, which reasons shall include but not be limited to:   

(1)     a violation of the New Mexico Lottery Act or any rule, policy or procedure of the board adopted pursuant to that act;   

(2)     failure to accurately or timely account for lottery tickets, lottery games, revenues or prizes as required by the authority;   

(3)     commission of any fraud, deceit or misrepresentation;   

(4)     failure to achieve sales goals established by the lottery;   

(5)     conduct prejudicial to public confidence in the lottery;   

(6)     the lottery retailer's filing for or being placed in bankruptcy or receivership;   

(7)     any material change as determined in the sole discretion of the authority in any matter considered by the authority in executing the contract with the lottery retailer; and   

(8)     failure to meet any of the objective criteria established by the authority pursuant to the New Mexico Lottery Act.   

B.     The chief executive officer may terminate a contract with a lottery retailer for violations or actions that according to the terms of the contract, pursuant to Subsection A of this section, require termination.