Oregon Administrative Rules|Section 462-200-0130 - Unclaimed Winnings Account

                                                
Current through Register Vol. 60, No. 12, December 1, 2021 
(1) Every race meet licensee conducting a race meet or continuous race meet shall carry on its books for each race meet an account to be known as the Unclaimed Winnings Account showing the total amount due on outstanding winning mutuel wagering tickets not presented for payment. All funds in the Unclaimed Winnings Account shall be retained by the licensee and deposited in a separate account from all other funds. No payments shall be made by the licensee from this account except to a person who presents a valid, clearly identifiable winning ticket. The account number and place of deposit shall be reported to the commission within 96 hours of the first day of the race meet or continuous race meet. All deposits by the licensee to the Unclaimed Winnings Account shall be made by the third business day following each race day. A statement of the balance of the Unclaimed Winnings Account shall be furnished to the commission within 72 hours after any change in the account balance during the race meet, and after the race meet, within five days following the last day of each month in which there is any change in the account balance.
 
(2) Any person claiming to be entitled to any part of the winnings from a mutuel wagering system operated by the race meet licensee, who fails to claim the money due such person prior to the competition of the race meet at which the pari-mutuel wagering ticket was purchased, may within 90 days after the close of the meet file with the race meet licensee a claim, in such form as the commission shall prescribe, accompanied by the valid winning ticket. If the claimant establishes the right to winnings from the mutuel wagering system, the race meet licensee shall pay such winnings to the claimant. At the expiration of such 90 day period, the holder of such a winning ticket shall possess no right to any portion of the wagering and the ticket shall be deemed void. Notwithstanding the provisions of this section, if the 90th day prescribed herein falls upon a Saturday, Sunday or legal holiday, then the holder shall file such claim with the licensee on the first business day thereafter.
 
(3) One hundred and twenty days after the close of a race meet conducted by a race meet licensee or after the close of a continuous race meet conducted by two or more race meet licensees, and amount equal to the outstanding balance of the Unclaimed Winnings Account shall be paid to the commission.
 
Or. Admin. R. 462-200-0130
RC 3-2000, f. 3-27-00, cert. ef. 5-1-00; RC 2-2018, minor correction filed 06/19/2018, effective 6/19/2018
Statutory/Other Authority: ORS 462.270(3)
 
Statutes/Other Implemented: ORS 462.073
This section was updated on 7/19/2018 by overlay.