{"data":{"id":"us-ok/okla.-stat.-tit.-3a-3a-721","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 3A, § 3A-721","heading":"Personal liability for proceeds – Deposit requirements –","body":"Insolvency.\n\nA. All proceeds from the sale of the lottery tickets or shares\n\nshall constitute a trust fund until paid to the Oklahoma Lottery\n\nCommission either directly or through the authorized collection\n\nrepresentative of the Commission. A lottery retailer and officers\n\nof the business of a lottery retailer shall have a fiduciary duty to\n\npreserve and account for lottery proceeds, and lottery retailers\n\nshall be personally liable for all proceeds. Proceeds shall include\n\nunsold instant tickets received by a lottery retailer and cash\n\nproceeds of the sale of any lottery products, net of allowable sales\n\ncommissions and credit for lottery prizes, sold to or paid to\n\nwinners by lottery retailers. Sales proceeds and unused instant\n\ntickets shall be delivered to the Commission or its authorized\n\ncollection representative upon demand.\n\nB. All lottery proceeds due to the Commission shall be\n\nconsidered state funds. The Commission shall require retailers to\n\nplace all lottery proceeds due the Commission in accounts in\n\ninstitutions insured by the Federal Deposit Insurance Corporation\n\nnot later than the close of the next banking day after the date of\n\ntheir collection by the retailer until the date they are paid over\n\nto the Commission. At the time of the deposit, lottery proceeds\n\nshall be deemed to be the property of the Commission. The\n\nCommission may require a retailer to establish a single separate\n\nelectronic funds transfer account, where available, for the purpose\n\nof receiving monies from ticket or share sales, making payments to\n\nthe Commission, and receiving payments for the Commission. Unless\n\notherwise authorized in writing by the Commission, each lottery\n\nretailer shall establish a separate bank account for lottery\n\nproceeds which shall be kept separate and apart from all other funds\n\nand assets and shall not be commingled with any other funds or\n\nassets.\n\nC. Whenever a person who receives proceeds from the sale of\n\nlottery tickets or shares in the capacity of a lottery retailer\n\nbecomes insolvent or dies insolvent, the proceeds in any account\n\nestablished pursuant to the provisions of subsection B of this\n\nsection due to the Commission from the person or the estate of the\n\nperson shall have preference over all debts or demands.","path":["OK Code","Title 3A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os3A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"536bbe07727a9494a35c09a42f3e6d2a299f39d10c320cb7dcb21bdca50711d0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-3a-3a-720","next":"us-ok/okla.-stat.-tit.-3a-3a-722"},"notice":"GroundRules: Original legal text. Not legal advice."}