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New York Codes Rules Regulations (Last Updated: March 27,2024) |
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TITLE 19. Department of State |
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Chapter III. Administration |
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Subchapter A. Bureau of State Records and Law |
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Part 132. Use of Games of Chance in Selling Commodities |
Sec. 132.4. Trust accounts and surety bonds
Latest version.
- Where prizewinning objects are distributed to retail establishments in a substantially uniform ratio to the number of participating objects or entries, the total value of prizes offered may be calculated as:A = (N/T) (V) + Pwhere A is the amount of the bond to be posted or trust account to be maintained;N is the total number of objects distributed in New York or the projected number of entries from New York;T is the total number of objects distributed or the projected number of entries in the game;V is the total retail value of all prizes offered; andP1, P2, P3, P4, and P5 are respectively the retail values of the first, second, third, fourth and fifth largest prizes.