New York Laws
Article 4 - Quarter Horse Racing and Breeding
426 - Disposition of Unpaid Money Due on Account of Pari-Mutuel Tickets Not Presented.

§ 426. Disposition of unpaid money due on account of pari-mutuel
tickets not presented. The sum held by any corporation or association
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 or association 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 state tax
commission 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 state tax
commission. 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 the case such balance is not paid when due. Such
amounts, interest and penalties when collected shall be paid by the
state tax commission into the general fund of the state treasury.

Structure New York Laws