N.Y. Comp. Codes R. & Regs. tit. 9 § 5002.13

Current through Register Vol. 46, No. 50, December 11, 2024

Section 5002.13 - Prize payable for life

When a prize claim is filed on a jackpot ticket eligible for a prize payable for life, such as the "$1,000 a week for life" prize, payments shall be made annually for:

(a) the natural life of the person filing the prize claim, if the claimant is a single natural person who is not a minor under the age of 18, provided, however, that if the person filing the prize claims dies before 20 annual payments elapse, the prize shall continue to be paid, to the decedent's estate or otherwise as provided by law, until a total of 20 annual payments have been made for the prize claim, at which time such prize payment shall cease and the State shall have no further obligation with respect to such prize claim; and

(b) 20 annual payments, if the claimant is:

(1) an entity;

(2) a group comprising, directly or indirectly, more than one natural person, without regard to the lifespan of any natural person with an interest in such prize claim; or

(3) a minor under the age of 18. In the event of death of any natural person who is a member of a group claiming the prize, such decedent's interest in such prize claim shall be paid to the decedent's estate or otherwise as provided by law.

(c) Prize claims filed before April 1, 2024 for a prize payable for life shall be governed by the rules and regulations in effect at the time such prize claim is filed, notwithstanding anything to the contrary in this section.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5002.13

Amended New York State Register April 10, 2024/Volume XLVI, Issue 15, eff. 4/10/2024