The corporation shall require each lottery retailer to post a letter of credit or a bond with the corporation using a surety acceptable to the corporation in an amount not to exceed twice the average lottery ticket sales of the lottery retailer for the period within which the lottery retailer is required to remit lottery funds to the corporation. This section does not apply to lottery tickets which are prepaid by the lottery retailers. The corporation may facilitate the purchase of bonds and letters of credit by establishing lottery retailer pools for the purchase of bonds and letters of credit for lottery retailers.
Structure Mississippi Code
Title 27 - Taxation and Finance
Chapter 115 - Alyce G. Clarke Mississippi Lottery Law
§ 27-115-3. Legislative intent
§ 27-115-25. Employment of attorney by board authorized
§ 27-115-35. Bond for protection of corporation; other surety in lieu of bond; annual review of bond
§ 27-115-41. Publication of quarterly and annual financial statements
§ 27-115-59. Lottery retailer to post bond or letter of credit
§ 27-115-85. Allocation of revenues
§ 27-115-87. Corporation division heads, employees are public servants