Current with changes from the 2024 Legislative Session
Section 9-114 - Surety bond; irrevocable letter of credit, etc., of licensed agent(a) The Director may require any lottery agent granted a license to post either an appropriate surety bond, irrevocable letter of credit, or cash security deposit in the amount that the regulations of the Agency set.(b)(1) In lieu of a surety bond, irrevocable letter of credit, or cash security deposit, the Agency, at the discretion of the Director, may provide a blanket bond covering all or selected agents in accordance with the availability of bonds and the financial status of an individual or a corporation.(2) A bond provided by the Agency shall be:(i) provided at the agent's expense; and(ii) based upon a financial evaluation of the agent conducted by the Director.