S.D. Admin. R. 48:01:03:04
Upon receipt of the billing, a retailer shall pay the lottery in full for tickets sold by the retailer. The retailer shall remit payment to the lottery by electronic transfer of funds.
The retailer shall establish an account with a financial institution capable of receiving and processing electronic funds transfers. The retailer shall furnish the lottery all information and bank authorizations required to facilitate the timely payment of money due the lottery. The retailer must provide the lottery 14 days advance notice of any proposed account changes to ensure the uninterrupted electronic transfer of funds. The lottery shall withdraw the amount due the lottery from the retailer's account by means of electronic funds transfer on a day specified by the lottery. If the day specified for withdrawal falls on a federal or state holiday, withdrawal shall take place on the following business day.
The retailer shall maintain a balance in the account that is sufficient to cover the amount due the lottery. The lottery may withhold further delivery of tickets to a retailer or may require an accelerated payment schedule if a retailer's payment is late or the account has insufficient funds to satisfy the amount due the lottery.
S.D. Admin. R. 48:01:03:04
General Authority: SDCL 42-7A-8(9), 42-7A-21.
Law Implemented: SDCL 42-7A-8(9), 42-7A-21