La. Admin. Code tit. 42 § XV-127
Current through Register Vol. 50, No. 11, November 20, 2024
Section XV-127 - Installment PrizesA. The corporation may provide for the payment of any prize of more than $100,000 in equal annual installments. The schedule of payments shall be designed to pay the winner equal dollar amounts each year until the total payments equal the prize amount. When the prize amount is paid in installments, the president may round the actual amount of the prize to the nearest $1,000 amount to facilitate the appropriate funding mechanism. The corporation shall not accelerate the payment schedule of any installment prize without the consent of the winner.La. Admin. Code tit. 42, § XV-127
Adopted by the Louisiana Lottery Corporation on February 18, 1992 and promulgated in The Advocate, February 28, 1992, repromulgated LR 23:66 (January 1997), amended LR 26:703 (April 2000), Amended LR 47367 (3/1/2021).AUTHORITY NOTE: Promulgated in accordance with R.S.47:9001 et seq.