Trust accounts and surety bonds
Compiled source label: current through Apr 15, 2022
Register checked through July 8, 2026/Vol. XLVIII, Issue 27 (2026-07-08) - no later Register activity found for this section
What LawEngine checked
- Status
- Source receipt
- Compiled source current through
- Apr 15, 2022
- Register checked through
- July 8, 2026/Vol. XLVIII, Issue 27 (2026-07-08)
- Register activity status
- no later Register activity found
- LawEngine source snapshot
- Jun 6, 2026
Where prizewinning objects are distributed to retail establishments in a substantially uniform ratio to the number of participating objects or entries, the total value of prizes offered may be calculated as: A = (N/T) (V) + P where A is the amount of the bond to be posted or trust account to be maintained; N is the total number of objects distributed in New York or the projected number of entries from New York; T is the total number of objects distributed or the projected number of entries in the game; V is the total retail value of all prizes offered; and P1, P2, P3, P4, and P5 are respectively the retail values of the first, second, third, fourth and fifth largest prizes.