ORS 462.073
Unclaimed Winnings Account

  • payment of winning or refund tickets
  • disposition of proceeds
  • civil penalties

(1)

Every licensee who conducts a race meet shall carry on the books for each race meet an account to be known as the Unclaimed Winnings Account showing the total amount due on outstanding winning mutuel wagering tickets and refund tickets not presented for payment. All funds in the Unclaimed Winnings Account shall be retained by the licensee and deposited in a separate account from all other funds in a bank maintaining an office located in and licensed to do business in Oregon. No payments shall be made by the licensee from this account except to a person who presents a valid, clearly identifiable winning or refund ticket. A statement of the balance of the Unclaimed Winnings Account shall be furnished to the Oregon Racing Commission within 72 hours after any change in the account balance during the race meet and, after the completion of the race meet, within five days following the last day of each month in which there is any change in the account balance.

(2)

Any person claiming to be entitled to any part of winnings or refunds from a mutuel wagering system operated by a licensee, who fails to claim the money due prior to the completion of the race meet at which the mutuel wagering or refund ticket was purchased, may, within 90 days after the close of the meet, file with the licensee a claim, in such form as the commission shall prescribe, accompanied by the valid winning or refund ticket. If the claimant establishes the right to winnings or refunds from the mutuel wagering system, the licensee shall pay such moneys to the claimant. At the expiration of such 90-day period, the holder of such a winning or refund ticket shall possess no right to any portion of the wagering or refund and the ticket shall be deemed void.

(3)

One hundred twenty days after the close of a race meet conducted by a licensee under this chapter, an amount equal to the outstanding balance of the Unclaimed Winnings Account shall be paid to the commission, which shall immediately deposit such moneys in the General Fund in the State Treasury to the credit of the Oregon Racing Commission Account. The licensee shall be subject to a civil penalty of not less than $25 per day after 120 days for failure to pay moneys due to the commission in accordance with this subsection. Civil penalties under this subsection shall be imposed as provided in ORS 183.745 (Civil penalty procedures).

(4)

Notwithstanding the provisions of subsections (2) and (3) of this section, if a continuous race meet is designated by the commission, the 90-day period referred to in subsection (2) of this section shall commence after the close of the continuous race meet at the race course.

(5)

Notwithstanding the provisions of subsection (2) of this section, if the 90th day prescribed therein falls upon a Saturday, Sunday or legal holiday, then the holder shall file such claim with the licensee on the first business day thereafter.

(6)

Notwithstanding the provisions of subsection (3) of this section, a race meet licensee who holds a license under ORS 462.057 (License and other fees and purses) shall retain that licensee’s unclaimed winnings to finance physical improvements to the licensee’s race course facility and enclosure. This subsection does not apply to the unclaimed winnings from those race meets which the licensee holds at the race course of a licensee who is the holder of a license under ORS 462.062 (Fees and other payments by licensees of horse race meets not subject to ORS 462.057) or 462.067 (License and other fees for race meets not subject to ORS 462.057 and 462.062). [1969 c.356 §37; 1975 c.549 §10; 1981 c.544 §8; 1983 s.s. c.7 §5; 1989 c.357 §1; 1991 c.734 §31a; 1993 c.302 §1; 1993 c.682 §7; 1997 c.865 §5; 2005 c.777 §18]

Source: Section 462.073 — Unclaimed Winnings Account; payment of winning or refund tickets; disposition of proceeds; civil penalties, https://www.­oregonlegislature.­gov/bills_laws/ors/ors462.­html.

462.010
Definitions
462.020
License requirement
462.025
Notice required to terminate use of license
462.030
Qualifications for eligibility of race meet operator
462.040
Race meet licenses, classes, limitations, contents
462.050
Application for race meet license
462.055
Authority to require applicant to have recommendation of local governing body
462.057
License and other fees and purses
462.062
Fees and other payments by licensees of horse race meets not subject to ORS 462.057
462.065
Security for association receiving payments under ORS 462.057 or 462.062
462.067
License and other fees for race meets not subject to ORS 462.057 and 462.062
462.068
Fees for wagering on certain previously held races
462.070
License fees for officials, track operators and other race meet participants
462.072
Cash Vouchers Account
462.073
Unclaimed Winnings Account
462.075
Grounds for refusal to issue or renew licenses
462.080
Exclusion of certain persons from race courses
462.090
Revocation, suspension and refusal to renew licenses
462.100
License fee and tax in lieu of all others
462.110
Public liability insurance required
462.125
Number and classes of race meets
462.127
Oregon Quarter Horse Racing Association and Oregon Division Horsemen’s Benevolent and Protective Association racing
462.130
Oregon bred horse races
462.135
Oregon bred greyhound races
462.140
Prohibitions concerning bookmaking, betting
462.142
Account wagering
462.145
Handicapping contests
462.147
Mutuel pools
462.150
Regulation of underpayments
462.155
Wagering on races previously held
462.157
Limitations on wagering on historical animal racing
462.160
When race meet is a nuisance
462.170
Commission rules apply to county fairs
462.185
Issuance of licenses to animal owners or trainers
462.190
Restrictions on minors
462.195
Written statement of age from purchaser of mutuel wagering ticket or receipt
462.200
Tests of animals participating in race meets or persons required to be licensed
462.210
Oregon Racing Commission
462.220
Compensation and expenses of members
462.230
Vacancies and removal
462.240
Oath of office
462.250
Organization of commission
462.260
Oregon Racing Commission Account
462.265
Commission subject to state budget procedures and laws governing supervision of expenditures
462.270
Duties of commission
462.272
Power of commission to administer oaths, take depositions, issue subpoenas
462.273
Prohibited activities of commission, staff and family members
462.275
Commission activities concerning betterment of racing
462.277
Service and execution of warrants of arrest and search warrants
462.301
Definitions for ORS 462.301 to 462.340
462.304
Legislative findings
462.307
Lawful exchange wagering
462.310
Exchange wagering accounts
462.313
Exchange wagering license
462.316
Prohibition on accepting certain wagers
462.319
Collection of exchange revenues
462.322
Cancellation of wagers
462.325
Matched wagers
462.328
Posting of exchange wager in market
462.331
Posting of exchange wager in pool
462.334
Fees
462.337
Limitations on authority of Oregon Racing Commission
462.340
Rules
462.405
Board of stewards’ authority
462.408
Recovery of owed amounts
462.415
Animals prohibited from racing
462.417
Schedule of purses to have prior approval of commission
462.420
Stimulating or depressing participating animal prohibited
462.430
Prohibitions concerning influencing results of races
462.450
Regulation of possession, transportation or use of drugs at race course
462.460
Racing animal under name or designation other than registered name or designation or altering license prohibited
462.470
Aiding or abetting racing of animal under name or designation other than registered name or designation prohibited
462.510
Demand or acceptance of compensation for furnishing racing information as touting
462.520
Penalty for falsely using name of racing official as source of information in commission of touting
462.700
Authorization
462.710
Application
462.720
Pooling wagered moneys
462.725
Multi-jurisdictional simulcasting and wagering
462.727
Totalizator business license
462.730
Payments by licensee to commission
462.735
Suspension or refusal to renew license
462.740
Rules
462.990
Penalties
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