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Developed and maintained by the Division of Legislative Automated Systems.
1996 SESSION
964128208Be it enacted by the General Assembly of Virginia:
1. That § 58.1-4020 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-4020. Unclaimed prizes.
A. Unclaimed prizes for a winning ticket or share shall be retained by the
Director for the person entitled thereto for 180 days after the drawing in
which the prize was won in the case of a drawing prize and for 180 days after
the announced end of the lottery game in the case of a prize determined in any
manner other than by means of a drawing. If no claim is made for the prize
within the 180 days, the Director shall deem such prize shall
be considered forfeited by the person entitled to claim such winnings.
B. Forfeited All prizes deemed forfeited pursuant
to subsection A shall be paid into the Literary Fund. The Director may
develop procedures, to be approved by the Auditor of Public Accounts, for
estimating the cumulative total of such unclaimed prizes in any lottery game in
lieu of specifically identifying unclaimed prizes where such specific
identification would not be cost effective. The Director, within sixty days
after the end of each 180-day retention period, shall report the total value of
prizes forfeited at the end of such period to the Comptroller, who shall
promptly transfer the total of such prizes to the Literary Fund. The total
value of prizes forfeited during the fiscal year shall be audited by the
Auditor of Public Accounts in accordance with § 58.1-4023. In the case of
a prize payable over time on one or more
winning tickets, if such prize is shared by two or more
winning tickets, one or more of which are
winning tickets is not claimed within the 180-day
redemption period, the Department shall transfer the then current monetary
value of such portion of the prize remaining unclaimed to the Literary
Fund in accordance with procedures approved by the State Treasurer.
C. Subsection B of this section shall not apply to prizes of twenty-five dollars or less resulting from any lottery game other than a lottery game in which a drawing determined the prize. The Board shall adopt regulations for the disposition of all such unclaimed prizes of twenty-five dollars or less not resulting from a drawing. Such disposition shall be directed in whole or in part to either the State Lottery Fund or to other forms of compensation to licensed sales agents.
D. For purposes of this section, "prize" refers to a cash prize. In the case of a prize payable over time and not as a lump sum payment, "prize" means the present cash value of the prize, not the value paid over time.
E. In accordance with the provisions of the Soldiers' and Sailors' Civil Relief
Act of 1940 (50 App. U.S.C.A. § 525), any person whose
unclaimed prize was deemed forfeited pursuant
to subsection A while he was in active military service may
claim exemption from the 180-day ticket redemption requirement. Such
person, however, must claim his winning ticket or share
as soon as practicable and in such forfeited
prize by presenting his winning ticket to the Director no
event later than 180 days after his discharge from active
military service. Within 30 days of such presentation,
the Director shall verify the claim
and report the verification to the
Comptroller. The Comptroller
shall promptly pay the
verified claim first from funds
available in the Unclaimed
Property Trust Fund in
§ 3-2.00 of the general appropriations
act; if such funds are
insufficient, then, from any undesignated,
unreserved year-end balance of the general fund.
All verified claims shall be paid in accordance with the
Board's rules and regulations then in effect regarding the manner of
payment of prizes to the holders of winning tickets or shares.