Minn. R. agency 176, ch. 7857, pt. 7857.6000

Current through Register Vol. 49, No. 24, December 9, 2024
Part 7857.6000 - PRIZES PAYABLE AFTER DEATH OF PRIZE WINNER
Subpart 1.General.

All prizes or portions of prizes due will remain payable at the time of death of the prize winner. Upon payment as provided under this chapter, the lottery will be absolved of any further liability. The payment of a prize may not be accelerated before the normal date of tender or payment because of the death of the prize winner or for any reason, except as provided in subpart 4.

Subp. 2.Prizes not payable over time.

Prizes or a portion of a prize not payable over time will be payable to any designated beneficiary which the deceased prize winner may appoint by will. If the deceased prize winner fails to designate any party specifically or by residuary clause, or fails to exercise any power of appointment in a will, the payment then will be made directly to those parties who would succeed to the assets of the deceased prize winner under Minnesota Statutes, chapter 524.

Subp. 3.Prizes paid over time.

All prizes or portions of prizes payable over time will be payable to the party designated as a beneficiary on the latest valid beneficiary statement filed with the lottery. If a winner of a prize or portion of a prize dies before completing a valid beneficiary statement or does not have a valid beneficiary statement on file with the lottery at the time of death, then the prize or portion of the prize will be payable according to subpart 2.

Subp. 4.Acceleration of payment.

After the death of a lottery prize winner and upon petition of the estate of the lottery prize winner, the director may accelerate payment of all remaining proceeds from the winning ticket to the estate of the lottery winner by either:

A. transferring to the estate all securities and other investment securities held by the lottery to satisfy the prize requirements; or
B. paying the estate the present value of the remaining payments of the lottery winner's prize.

Minn. R. agency 176, ch. 7857, pt. 7857.6000

14 SR 2354; 18 SR 1223

Statutory Authority: MS s 349A.05