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Can you summarize GACO 50-27-24.1?
General Provisions > Payment of prize to person other than winner; assignment of prize rights; hearing; findings justifying approval of voluntary assignment; other requirements.
Short Summary
This legal document, part of the Georgia Code, pertains to the payment of lottery prizes to persons other than the winners and the voluntary assignment of prize rights. It outlines the requirements and procedures for such assignments, including the need for a judicial order, a hearing, and specific findings justifying the approval of the assignment. The document also specifies the obligations of the assignee, such as withholding taxes and providing a disclosure statement to the assignor. It further addresses the rights and responsibilities of the assignor, the assignee, and the Georgia Lottery for Education. The document emphasizes that the corporation and its officials are not liable for making any assigned payments. Additionally, it establishes limitations on the assignment, including restrictions on dividing a single prize payment among more than three different persons. The document does not mention any specific penalties or exemptions. Overall, it provides a framework for the lawful transfer of lottery prize rights in Georgia.
Whom does it apply to?
This document applies to the Georgia Lottery for Education and any person who is entitled to a prize awarded by the corporation.
What does it govern?
Payment of prize to person other than winner; assignment of prize rights; hearing; findings justifying approval of voluntary assignment; other requirements.
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Georgia