11 Va. Admin. Code § 5-20-80

Current through Register Vol. 41, No. 8, December 2, 2024

Section 11VAC5-20-80 - Approval of banks

A. The State Treasurer, with the concurrence of the director, and in accordance with applicable Treasury directives, shall approve a bank or banks to provide services to the agency.

B. A bank or banks shall serve as agent or agents for electronic funds transfers between the agency and lottery retailers as required by 11VAC5-20, 11VAC5-31, and 11VAC5-41 and by contracts between the agency, the State Treasury, retailers, and the banks.

11 Va. Admin. Code § 5-20-80

Derived from VR447-01-2 §2.1, eff. December 1, 1988; amended, Virginia Register Volume 6, Issue 6, eff. January 17, 1990; Volume 7, Issue 13, eff. April 24, 1991; Volume 8, Issue 24, eff. September 24, 1992; Volume 10, Issue 11, eff. March 23, 1994; Volume 13, Issue 3, eff. November 28, 1996; Volume 19, Issue 15, eff. May 7, 2003; Amended, Virginia Register Volume 31, Issue 03, eff. 11/5/2014.

Statutory Authority: §§ 2.2-4007.02 and 58.1-4007 of the Code of Virginia (11VAC5-11-10, 11VAC5-11-20) .

§ 58.1-4007 of the Code of Virginia (all other sections).