67.70.250 - Methods for payment of prizes by installments. - Washington Statutes

Methods for payment of prizes by installments.

If the director decides to pay any portion of or all of the prizes in the form of installments over a period of years, the director shall provide for the payment of all such installments for any specific lottery game by one, but not both, of the following methods:

     (1) The director may enter into contracts with any financially responsible person or firm providing for the payment of such installments; or

     (2) The director may establish and maintain a reserve account into which shall be placed sufficient moneys for the director to pay such installments as they become due. Such reserve account shall be maintained as a separate and independent fund outside the state treasury.

[1987 c 511 § 11; 1982 2nd ex.s. c 7 § 25.]