Iowa Admin. Code r. 531-13.8

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 531-13.8 - Dishonored checks and electronic funds transfers

Any payment made to the lottery by an applicant for a license or by a licensed retailer either by a check which is dishonored or by an electronic funds transfer (EFT) which is not paid by the depository shall be grounds for immediate denial of the application for a license or for the suspension or revocation of an existing license. The lottery may assess a surcharge up to the maximum allowed by applicable state law for each dishonored check or EFT. The lottery may also alter the payment terms of a retailer's license and require a retailer to reimburse the lottery for costs which occur as a result of a dishonored check or EFT.

This rule is intended to implement Iowa Code Supplement sections 990.9(3), 99G.24, and 99G.27.