5-1212. Fantasy sports contest fund
125 words·~1 min read·
/az/title-5/5-1212A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The fantasy sports contest fund is established consisting of monies deposited pursuant to section 5-1211 or from any other source. The department shall administer the fund. Monies in the fund are subject to legislative appropriation.
B. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.
C. The department may spend not more than ten percent of monies on the department's annual costs of regulating and enforcing this chapter unless otherwise provided by the legislature. At the end of each fiscal year, any revenues collected in excess of the amount appropriated from the fund shall be transferred to the state general fund.