9 NYCRR Part 5112 - Executive Department

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Source version current through Nov 15, 2021

All 4 displayed sections in this Part carry the same compiled date. Status and warnings stay on each section.

9 NYCRR 5112.1 - Identification of financial institution

A matched Register action is not later than the compiled-text reference date.

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Nov 15, 2021
Related Register notice: SGC-29-21-00010-A · Adopted rule
Related notice published: Nov 24, 2021
Related notice effective date: Nov 24, 2021

(a)Establishment of accounts.

Prior to the commencement of the operation of any video lottery gaming facility, the video lottery gaming agent shall submit to the commission for approval the name and location of a financial institution authorized to do business in the State together with:

(1)the account number for the account designated by the video lottery gaming agent for the deposit of video lottery gaming revenues;

(2)the account number for the account designated by the video lottery gaming agent for the deposit of the portion of the vendor fee to be used exclusively for capital investments; and

(3)the financial institution’s routing information for collection and distribution of video lottery gaming revenue.

(b)Financial institution.

The financial institution shall be a bank or trust company, as defined by the State banking law, that is authorized to do business in the State and that maintains an office for the transaction of business within the State. The video lottery gaming agent shall authorize such bank or trust company to transfer revenue to the commission or the commission’s duly authorized representative in a manner consistent with these regulations.

(c)Use of accounts.

The accounts designated by the video lottery gaming agent pursuant to this Part shall be used exclusively for either:

(1)the deposit and distribution of the daily video lottery gaming revenue; or

(2)the deposit and distribution of capital investments.

The video lottery gaming agent shall not commingle other funds into such accounts.

(d)Required notice.

Each video lottery gaming agent shall provide the commission 30 days advance notice of any proposed account changes in order to ensure the uninterrupted distribution of video lottery gaming revenue to the commission.

9 NYCRR 5112.2 - Deposit of video lottery gaming revenues by agents

A matched Register action is not later than the compiled-text reference date.

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Nov 15, 2021
Related Register notice: SGC-29-21-00010-A · Adopted rule
Related notice published: Nov 24, 2021
Related notice effective date: Nov 24, 2021

(a)Daily deposit.

Each video lottery gaming agent shall be required to deposit daily into the dedicated bank account for video lottery gaming revenue the net proceeds from video lottery gaming for the previous day as determined by the video lottery gaming central system and related reports. Any withholdings for Federal, State, and local income taxes, or public assistance and child support intercepts, shall be included in the daily deposit. The commission shall remit such withholdings when received to the appropriate governmental agencies.

(b)Electronic funds transfer.

The net proceeds of video lottery gaming required to be remitted daily to the commission by this Part shall be remitted through an Electronic Funds Transfer (EFT) from the dedicated bank account for video lottery gaming revenue provided by the video lottery gaming agent. The commission may utilize the EFT to adjust certain administrative expenses, prize payments or net machine income, as determined by the commission. To the extent that such daily EFT cannot be achieved due to the unavailability of bank services, the remission shall be made on the first day thereafter that such services are available. Failure to comply with this procedure for EFT may result in the immediate suspension of video lottery gaming at the video lottery gaming facility.

(c)Loss or theft.

The commission is not responsible for the loss or theft of money prior to the distribution of such money to the commission.

(d)Prize lapse.

Any prize that has not been paid out within a time period specified by the commission shall be remitted to the commission.

9 NYCRR 5112.4 - Duty to notify of accounting discrepancies

Later State Register activity may affect this section.

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Nov 15, 2021

(a)Each video lottery gaming agent shall be responsible for resolving accounting discrepancies between actual monies collected and the amounts reported by the central system.

(b)Each video lottery gaming agent shall report to the commission the date, amount, and cause of any accounting discrepancy resulting from a daily count of receipts. Where the cause of the accounting discrepancy is due to erroneous central computer system reporting, the commission shall conduct an investigation to determine the proper accounting for daily receipts and report the findings of such investigation to the video lottery gaming agent.

(c)Discrepancies shall mean differences between actual money collected and the amount shown on the invoice report provided by the commission.

(d)The commission is not responsible for resolving net terminal income discrepancies.

9 NYCRR 5112.5 - Delinquent accounts

A matched Register action is not later than the compiled-text reference date.

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Dates and status

NYCRR title agency: Executive Department
Section status: Section source receipt
Source version current through: Nov 15, 2021
Related Register notice: SGC-29-21-00010-A · Adopted rule
Related notice published: Nov 24, 2021
Related notice effective date: Nov 24, 2021

The commission may charge debt service in the amount of one and one-half percent monthly (18 percent per annum) on any monies due to the commission from video lottery gaming agents whose accounts are delinquent for more than 30 days.

Former section numbers

9 NYCRR 5112.3: This section was repealed. No successor section has been identified.

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