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H.B. 158 VETOES
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D. A BRIEF BUSINESS HISTORY OF THE ASSIGNEE;
E. A DESCRIPTION OF THE BUSINESS OF THE ASSIGNEE; AND
F. A STATEMENT OF THE ASSIGNEE'S PRIVACY AND
NONHARASSMENT POLICIES AND EXPRESS AFFIRMATION THAT THE ASSIGNEE HAS
FOLLOWED THOSE POLICIES IN THE STATE.
4. THE AFFIDAVIT SHALL BE PROVIDED ONLY BY THE
ASSIGNEE WHO ENTERS INTO THE CONTRACT WITH THE LOTTERY WINNER OR THE
ESTATE OF A LOTTERY WINNER
(X) THE ASSIGNEE SHALL NOTIFY THE AGENCY OF ITS BUSINESS
LOCATION AND MAILING ADDRESS FOR PAYMENT PURPOSES AND OF ANY CHANGE
IN LOCATION OR ADDRESS DURING THE ENTIRE COURSE OF THE ASSIGNMENT.
(XI) AN ASSIGNMENT MAY BE MADE BY A HUSBAND AND WIFE WHO
ARE CO-OWNERS OF A PRIZE ONLY IF THEY JOINTLY ASSIGN THE PRIZE TO AN
ASSIGNEE.
(XII) 1. A COURT ORDER OR A COMBINATION OF COURT ORDERS
UNDER THIS SECTION MAY NOT REQUIRE THE AGENCY TO DIVIDE A SINGLE PRIZE
PAYMENT AMONG MORE THAN THREE DIFFERENT PERSONS.
2. THIS SECTION DOES NOT PROHIBIT THE SUBSTITUTION
OF ASSIGNEES AS LONG AS THERE ARE NOT MORE THAN THREE ASSIGNEES AT ANY
ONE TIME FOR ANY ONE PRIZE PAYMENT.
3. ANY SUBSEQUENT ASSIGNEE IS BOUND AS THE ORIGINAL
ASSIGNEE BY THE PROVISIONS OF THIS SECTION AND THE TERMS AND CONDITIONS
OF THE CONTRACT OF ASSIGNMENT.
(XIII) IF THE INTERNAL REVENUE SERVICE OR A COURT OF
COMPETENT JURISDICTION ISSUES A DETERMINATION LETTER, REVENUE RULING,
OR OTHER PUBLIC DOCUMENT DECLARING THAT THE VOLUNTARY ASSIGNMENT OF
PRIZES WILL AFFECT THE FEDERAL INCOME TAX TREATMENT OF LOTTERY PRIZE
WINNERS WHO DO NOT ASSIGN THEIR PRIZES:
1. WITHIN 15 DAYS AFTER THE AGENCY RECEIVES THE
LETTER, RULING, OR OTHER DOCUMENT, THE DIRECTOR OF THE AGENCY SHALL
FILE A COPY OF IT WITH THE ATTORNEY GENERAL; AND
2. A COURT MAY NOT ISSUE AN ORDER AUTHORIZING A
VOLUNTARY ASSIGNMENT UNDER THIS PARAGRAPH.
GOV) THIS PARAGRAPH SHALL PREVAIL OVER ANY INCONSISTENT
PROVISION IN § 9-406 OF THE COMMERCIAL LAW ARTICLE.
(XV) A CONTRACT OR AGREEMENT MADE OR ENTERED INTO ON OR
BEFORE MAY 31, 2006, THAT PURPORTS TO VOLUNTARILY ASSIGN OR GRANT AN
INTEREST IN PRIZE PAYMENTS IS VOID.
(c) A licensed agent may pay in cash game prizes of not more than $5,000.
- 3522 -
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