432.12 Apportionment of revenue for payment of prizes; percentage.

227 words·~1 min read·/mi/chapter-432/432-12

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 12.

(1)Except as otherwise provided in subsection (2), as nearly as is practicable, not less than 45% of the total annual revenue accruing from the sale of lottery tickets or shares shall be apportioned for payment of prizes to the holders of winning tickets or shares.

(2)Notwithstanding subsection (1), the prize money from the sale of tickets or shares of any joint enterprise is that percentage of the total annual revenue accrued from that game as prescribed by the joint enterprise participation agreement executed by the commissioner.

History: 1972, Act 239, Imd. Eff. Aug. 1, 1972 ;-- Am. 1995, Act 53, Imd. Eff. May 22, 1995 ;-- Am. 1996, Act 95 , Eff. Mar. 31, 1997 ;-- Am. 1996, Act 167 , Imd. Eff. Apr. 17, 1996 ;-- Am. 1998, Act 393 , Imd. Eff. Dec. 17, 1998 ;-- Am. 2002, Act 471 , Imd. Eff. June 21, 2002 ;-- Am. 2006, Act 625 , Imd. Eff. Jan. 3, 2007 ;-- Am. 2011, Act 279 , Imd. Eff. Dec. 20, 2011

Compiler's Notes: For transfer of the Bureau of State Lottery from the Department of Management and Budget to be an autonomous entity within the Department of Treasury, see E.R.O. No. 1991-2, compiled at MCL 12.161 of the Michigan Compiled Laws.

Popular Name: Lottery Act