RS 176 - Limitation of time for presenting pari-mutuel tickets and disposition of unclaimed monies
A. All pari-mutuel tickets evidencing the right to participate in pari-mutuel pools or the right to a refund must be presented for payment within ninety days after the close of the race meeting conducted by the licensee. The failure to present such a ticket within the prescribed time shall constitute a waiver of the right to participate in the pari-mutuel pool or the right to a refund. Thereafter, the holder of such ticket shall have no right to enforce payment thereof.
B. The sum held by any licensee for payment of outstanding winning pari-mutuel tickets and for refunding the price of pari-mutuel tickets shall be retained by such licensee for such purpose until the expiration of ninety days after the close of the race meeting conducted by the licensee. One hundred days after the close of any race meeting, the licensee shall each day accumulate the amount equal to the sum of the unclaimed monies that expire that day. On or before the fifteenth day of the first month following the end of a calendar-year quarter, the licensee shall remit less the amount of state tax paid by the licensee on such unclaimed monies, to the state treasurer for deposit into the Crime Victims Reparations Fund as provided for in R.S. 46:1816(B)(8) an amount equal to the accumulated total for the previous calendar-year quarter. Such funds shall be used exclusively to pay the expenses associated with health care services of victims of sexually-oriented criminal offenses, including forensic medical examinations as defined in R.S. 15:622.
C. The Louisiana Racing Commission shall promulgate rules and regulations as necessary and in accordance with the Administrative Procedure Act for the administration and enforcement of this Section.
Acts 1968, No. 554, §1; Acts 1983, No. 593, §1; Acts 1990, No. 556, §1; Acts 1992, No. 391, §1, eff. June 18, 1992; Acts 2015, No. 186, §1.