Section 315-34-057. Lotto prize claim and payment methods.

The following sets forth requirements for claims and payment of Lotto prizes:

(1) Claims for prize payment shall be made in accordance with chapter 315-30 WAC.

(2) Prize payments shall be made as follows:

(a) Cash option: After a player has claimed a jackpot prize or a share of a jackpot prize, and after the claim has been validated (including a debt check pursuant to WAC 315-06-125), the player may elect to be paid a one-time single cash payment of fifty percent of his or her share of the announced jackpot, provided:

(i) The player must elect this cash option within sixty days of the validation of his or her prize, by following the procedure required by the lottery;

(ii) If the federal tax code is interpreted by federal authorities to require that this cash option be exercised within sixty days of the drawing for the prize, then (a)(i) of this subsection will not apply and instead, the player must elect this cash option within sixty days of the date of the drawing for the prize;

(iii) The player's choice of payment method as designated by signing the appropriate lottery form is final and may not be changed by the player at a later date.

(b) Annuity: A player who chooses not to elect the cash option or who does not elect the cash option within the sixty-day limit will be paid his or her prize in twenty-five annual installment payments.

[Statutory Authority: Chapter 67.70 RCW. WSR 05-12-005, § 315-34-057, filed 5/18/05, effective 6/18/05. Statutory Authority: RCW 67.70.040. WSR 01-17-022, § 315-34-057, filed 8/6/01, effective 9/6/01; WSR 99-19-103, § 315-34-057, filed 9/20/99, effective 10/21/99.]

Chapter 67.70 RCW. WSR 05-12-005, § 315-34-057, filed 5/18/05, effective 6/18/05. Statutory Authority: RCW 67.70.040. WSR 01-17-022, § 315-34-057, filed 8/6/01, effective 9/6/01; WSR 99-19-103, § 315-34-057, filed 9/20/99, effective 10/21/99.

Rules

315-30,315-06-125,