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RULE §401.353Retailer Settlements, Financial Obligations, and Commissions

(a) Each retailer shall provide authorization for an account with EFT (electronic funds transfer) capability to be used for weekly billing of all lottery products.

(b) Each retailer shall maintain an account balance sufficient to cover monies due the commission for the established billing period. The commission shall withdraw by EFT the amount due the commission on the day specified by the executive director. In the event a bank holiday falls on or before the day specified for withdrawal during the same business week, the withdrawal shall occur one day later in the week than normally scheduled. "Business week" means Sunday through Saturday. In the event the commission changes the beginning and ending days of the business week, the commission shall notify the retailers prior to the change.

(c) Each retailer shall receive credit on the retailer's lottery account for redeeming winning tickets.

(d) Each retailer shall receive 5.0% compensation on all sales from lottery games. A retailer may not accept compensation for the sale of lottery tickets other than compensation referenced in this section, regardless of the source. At the sole discretion of the executive director, a retailer may receive additional compensation which may include but is not limited to incentive or bonus programs.

(e) If a retailer fails to maintain a sufficient account balance to cover monies due the commission for the established billing period, the retailer's license shall be summarily suspended. If a retailer's license is summarily suspended for insufficient funds or non-transfer of funds four times in a 12-month period, the retailer's license shall be revoked.

Source Note: The provisions of this §401.353 adopted to be effective May 20, 2001, 26 TexReg 3489; amended to be effective December 31, 2017, 42 TexReg 7385; amended to be effective August 30, 2020, 45 TexReg 5908

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