431.254 Delivery of funds and reports; release and discharge for liability; exception.
165 words·~1 min read·
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431.254 Delivery of funds and reports; release and discharge for liability; exception.
Sec. 4.
The licensee upon taking proper receipt from the racing commissioner for funds and records delivered to the racing commissioner under this act and delivering a copy of the cashed winning ticket to the racing commissioner shall be released and discharged for all liability or accountability to the owner of the funds, as well as the requirements of preparing and filing of any report concerning the property to a state, county or municipal board, commission or agency, except those that were required or accrued before the date of the required delivery of the funds and report to the racing commissioner.
However, the delivery of the funds and reports to the racing commissioner by a licensee shall not release or discharge the licensee from the powers granted to the commissioner under section 5.
History: 1951, Act 90, Imd. Eff. May 31, 1951 ;-- Am. 1998, Act 505 , Imd. Eff. Jan. 8, 1999