Grand Prize Funds Transferred to MUSL Sample Clauses

Grand Prize Funds Transferred to MUSL. Each Party Lottery shall transfer to the MUSL in trust an amount as determined by the MUSL and the Product Group to be its total proportionate share of the prize account less actual low-tier prize liability. If this results in a negative amount, the MUSL central office shall transfer funds to the Party Lottery. If a Party Lottery's share exceeds its statutorily mandated prize payout, the MUSL may adjust the transfer amounts over a period of time to permit the payment of the Party Lottery's full share in a manner complying with the Party Lottery's prize payout laws. In the event of a win at a MUSL Lottery, the Mega Millions Clearinghouse shall collect the total proportionate share of the Grand Prize pool from the Mega Millions Lotteries and shall transfer that amount to MUSL within 15 calendar days from the date of the winning draw. Amended Dec 31, 2009.
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Grand Prize Funds Transferred to MUSL. Each Party Lottery shall transfer to the MUSL in trust an amount as determined by the MUSL and the Product Group to be its total proportionate share of the prize account less actual low-tier prize liability. If this results in a negative amount, the MUSL central office shall transfer funds to the Party Lottery. If a Party Lottery's share exceeds its statutorily mandated prize payout, the MUSL may adjust the transfer amounts over a period of time to permit the payment of the Party Lottery's full share in a manner complying with the Party Lottery's prize payout statute. Adopted September 10, 1998.

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