<html> <head> <title>Rule 48:03:03:07 Prize payment to winner's estate.</title> <META NAME="Keywords" Content="Administrative Rules 48:03:03:07"> <META NAME="Description" Content="Administrative Rules 48:03:03:07 Prize payment to winner's estate."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>48:03:03:07.&nbsp;&nbsp;Prize payment to winner's estate.</b> If a lottery winner dies during the payment period of an annuitized prize, the commission, in its sole discretion and upon the petition of the estate of the lottery winner, may accelerate the payment of all the remaining lottery proceeds to the estate. If the commission approves the request, the securities or cash, or both, held for the deceased lottery winner which represents the present value of that portion of the future lottery payments to be accelerated shall be distributed to the estate. The commission is solely responsible for the valuation of the securities and determination of the present value of the accelerated lottery payments.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 19 SDR 148, effective April 4, 1993.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=42-7A-34">42-7A-34.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=42-7A-21">42-7A-21(3).</A></p> </div> </body> </html>