2013 New York Consolidated Laws
PML - Racing, Pari-Mutuel Wagering and Breeding Law
Article 2 - (201 - 257) THOROUGHBRED RACING AND BREEDING
241 - Disposition of unpaid money due on account of pari-mutuel tickets not presented.

 
    §  241.  Disposition  of  unpaid  money  due on account of pari-mutuel
  tickets not presented. The sum held by  any  corporation  authorized  to
  conduct   pari-mutuel   betting   for  payment  of  outstanding  winning
  pari-mutuel tickets and for refunding the price of  pari-mutuel  tickets
  shall  be  retained  by  such  corporation for such purposes until April
  first of the succeeding year; provided, however,  that  ninety-five  per
  centum of such sum remaining unclaimed as of the last day of February of
  such  year  shall  be  paid to the department of taxation and finance by
  March fifteenth. On April tenth,  the  balance  of  such  sum  remaining
  unclaimed  and  any  other  unclaimed  amount  received in the course of
  conducting pari-mutuel betting  shall  be  paid  to  the  department  of
  taxation  and  finance. A penalty of five per centum and interest at the
  rate of one per centum per month from  the  due  date  to  the  date  of
  payment  of the unclaimed balance due March fifteenth or April tenth, as
  the case may be, shall be payable in case such balance is not paid  when
  due.  Such  amounts, interest and penalties when collected shall be paid
  by the department of taxation and finance into the general fund  of  the
  state treasury.