Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-115-605. Retailers--Fiduciary duty--Protection against loss

(a)(1) Proceeds from the sale of tickets or shares shall be held in trust until paid to the Office of the Arkansas Lottery either directly or through the office's authorized collection representative.

(2) A retailer and officers of a retailer's business have a fiduciary duty to preserve and account for retail lottery proceeds, and retailers are personally liable for all lottery proceeds.

(3) For the purpose of this section, lottery proceeds include without limitation:

(4) Sales proceeds and unused instant tickets shall be delivered to the office or its authorized collection representative upon demand.

(b)(1) The office shall require retailers to place all lottery proceeds due the office in accounts in institutions insured by the Federal Deposit Insurance Corporation not later than the close of the next banking day after the date of their collection by the retailer until the date they are paid to the office.

(2) At the time of the deposit, lottery proceeds shall be deemed to be the property of the office.

(3) The office may require a retailer to establish a single separate electronic funds transfer account when available for the purpose of:

(4) Unless authorized in writing by the office, each retailer shall establish a separate bank account for lottery proceeds that shall be kept separate and apart from all other funds and assets and shall not be commingled with any other funds or assets.