2013 Louisiana Laws
Revised Statutes
TITLE 4 - Amusements and Sports
RS 4:176 - Limitation of time for presenting pari-mutuel tickets and disposition of unpaid money due on account of pari-mutuel tickets not presented

§176. Limitation of time for presenting pari-mutuel tickets and disposition of unpaid money due on account of pari-mutuel tickets not presented

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, any unclaimed monies subjected to this Section shall be disposed of as follows. A sum not to exceed two hundred fifty thousand dollars for each race meeting shall be retained by the licensee and the remaining amount, if any, shall be paid over to the Louisiana State Racing Commission under oath, which shall then deposit said funds to the State General Fund of the state treasury with a report submitted under oath.

Acts 1968, No. 554, §1; Acts 1983, No. 593, §1; Acts 1990, No. 556, §1; Acts 1992, No. 391, §1, eff. June 18, 1992.