Kan. Admin. Regs. § 112-9-23 - Payoff on minus pool

Each organization licensee shall pay to each holder of any ticket entitling the holder to participate in the distribution of a parimutuel pool the amount wagered by the holder plus a minimum of five percent. This requirement shall be unaffected by the existence of a parimutuel pool that does not contain sufficient money to distribute the five percent to each person holding the tickets.

Notes

Kan. Admin. Regs. § 112-9-23

Authorized by K.S.A 1988 Supp. 74-8804(p); implementing K.S.A. 1988 Supp. 74-8819(b); effective, T-112-3-31-89, March 31, 1989; effective June 26, 1989; amended March 19, 1990.