Section 434.5  Outstanding Tickets

 

An outstanding pari-mutuel ticket shall be valid only until December 31 of the calendar year following its purchase.

 

(Source:  Added at 16 Ill. Reg. 17761, effective November 5, 1992)

 

Section 434.10  End of Meeting Report

 

Within ten days after the close of each race meeting, the organization licensee shall:  

 

a)         remove its outs liability account from the totalizator system computer and deliver to the Illinois Racing Board (Board) a report of its outstanding ticket liability (the "outs" book), as provided in Section 434.20; or

 

b)         comply with Section 434.30.

 

(Source:  Amended at 16 Ill. Reg. 17761, effective November 5, 1992)

 

Section 434.20  Removal of the Outs Account

 

a)         The organization licensee shall notify in writing the State Director of Mutuels at least three week days prior to the day and time that the outs liability account is to be removed from the totalizator system.

 

b)         The outs book shall include:  

 

1)         the date of the race;

 

2)         the number of each winning entry;

 

3)         the denominations of each outstanding ticket;

 

4)         the pay-offs; and

 

5)         the unique computer generated serial number of each outstanding ticket in accordance with 11 Ill. Adm. Code 433.260.

 

c)         Only two sets of outs books shall be printed at the time the outs liability account is removed from the computer system.  No subsequent sets of the outs book shall be printed without written approval by the Board requested in compliance with 11 Ill. Adm. Code 206.10 (written request must be made 15 days in advance of the Board meeting at which the request is to be heard).  Approval shall be given for good cause shown, e.g., when an original has been destroyed.

 

d)         A copy of the magnetic tape used to generate the outs books shall be provided to the Board.

 

(Source:  Amended at 16 Ill. Reg. 17761, effective November 5, 1992)

 

Section 434.30  Alternative Procedure

 

a)         An organization licensee may keep its outs liability account in the totalizator system computer if the totalizator system is operating at a racetrack where a race meeting is in progress.  If an organization licensee elects to keep the outs liability account in the computer system beyond ten days, that organization licensee, within ten days after the close of the meeting, must file a letter with the Board which shall:  

 

1)         state the dollar amount of the outstanding tickets at the close of the race meeting;

 

2)         state that the outs liability account will remain in the computer system;

 

3)         state the name of the racetrack where the account will be open for cashing of winning tickets by members of the public;

 

4)         state the name of the person who will be responsible for maintaining the integrity of the outs account and for maintaining the daily record of the account for reporting to the Board;

 

5)         indicate the approximate date when the account will be removed from the computer system; and

 

b)         remove the outs liability account not later than 30 days after the last program of consecutive race meetings of the same type of racing at the racetrack at which the tickets were purchased; and

 

c)         comply with Section 434.20.

 

Section 434.40   Payments

 

a)         Pursuant to Section 26(c) of the Illinois Horse Racing Act of 1975, (Act), the organization licensee shall submit to the State Director of Mutuels, no later than January 5 of each year, the outstanding tickets and a check representing the value of all outstanding tickets which remain unpaid from the calendar year preceding the year prior to the year of payment (e.g., outs tickets purchased in calendar year 1992 shall be remitted with payment to the State Director of Mutuels no later than January 5, 1994).

 

b)         Cashed tickets which have been submitted for payment shall be segregated and remitted in accordance with subsection (a) in the following manner:

 

1)         by tote;

 

2)         by calendar year; and

 

3)         by location.

 

(Source:  Amended at 16 Ill. Reg. 17761, effective November 5, 1992)