Ariz. Admin. Code § 19-3-601

Current through Register Vol. 30, No. 50, December 13, 2024

Section R19-3-601 - Voluntary Assignment of Prizes Paid in Installments

A. A prize winner may request a voluntary assignment of an annuity or a portion of the remaining installments of the annuity by filing an action in a court of competent jurisdiction requesting judicial approval of the assignment. The prize winner and the purchaser of the annuity shall name the state of Arizona as a defendant in the action and shall bear all costs associated with filing the request for judicial approval of the assignment.

B. A prize winner shall include in the request for judicial approval under subsection (A) the following:

1. The affidavit required under A.R.S. § 5-563(A)(3);

2. A copy of the signed assignment agreement between the prize winner and the assignee; and

3. Proof that the fee under subsection (D) has been paid to the Lottery.

C. After the court approves the assignment, the prize winner shall send the written judicial approval to the Lottery. Upon receipt of judicial approval of the voluntary assignment, the Director shall direct the insurance company to make future annuity payments as provided in the Court order.

D. The prize winner or assignee shall pay a fee of $235.00 to the Lottery to process the voluntary assignment.

Ariz. Admin. Code § R19-3-601

Adopted as an emergency effective October 31, 1986, pursuant to A.R.S. § 41-1003, valid for only 90 days (Supp. 86-5). Adopted without change as a permanent rule effective February 25, 1987 (Supp. 87-1). Amended effective May 7, 1993 (Supp. 93-2). R19-3-601 recodified from R4-37-601 (Supp. 95-1). Repealed effective June 14, 1997 (Supp. 97-2). New Section made by final rulemaking at 11 A.A.R. 2028, effective July 2, 2005 (Supp. 05-2). Pursuant to authority of A.R.S. § 41-1011(C), Laws 2010, 6th Special Session, Ch. 2, authorizes the transfer of A.R.S. citations. Therefore the A.R.S. citation in subsection (B)(1) was updated. Agency request filed September 24, 2012, Office File No. M12-343 (Supp. 12-3).