Connecticut Seal

General Assembly

 

Raised Bill No. 5182

February Session, 2012

 

LCO No. 889

 

*00889_______BA_*

 

Referred to Committee on Banks

 

Introduced by:

 

(BA)

 

AN ACT CONCERNING A TECHNICAL CHANGE REGARDING THE FINANCIAL SECURITY OF LOTTERY SALES AGENTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (c) of section 12-813 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2012):

(c) The president may [impose surety bonding requirements on lottery sales agents] require lottery sales agents to provide surety bonds, letters of credit or such other form of security as the president deems acceptable to ensure the performance of such agents' duties and obligations to the corporation.

This act shall take effect as follows and shall amend the following sections:

Section 1

July 1, 2012

12-813(c)

Statement of Purpose:

To make a technical change regarding the financial security of lottery sales agents to reflect current practices which require varying forms of financial security to protect the state from financial losses.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]