A. Any lottery retailer contract executed by the authority pursuant to the New Mexico Lottery Act shall specify the reasons for which a contract may be terminated by the authority, which reasons shall include but not be limited to:
(1) a violation of the New Mexico Lottery Act or any rule, policy or procedure of the board adopted pursuant to that act;
(2) failure to accurately or timely account for lottery tickets, lottery games, revenues or prizes as required by the authority;
(3) commission of any fraud, deceit or misrepresentation;
(4) failure to achieve sales goals established by the lottery;
(5) conduct prejudicial to public confidence in the lottery;
(6) the lottery retailer's filing for or being placed in bankruptcy or receivership;
(7) any material change as determined in the sole discretion of the authority in any matter considered by the authority in executing the contract with the lottery retailer; and
(8) failure to meet any of the objective criteria established by the authority pursuant to the New Mexico Lottery Act.
B. The chief executive officer may terminate a contract with a lottery retailer for violations or actions that according to the terms of the contract, pursuant to Subsection A of this section, require termination.
History: Laws 1995, ch. 155, § 16.