(a) (1) Lottery proceeds are the property of the Office of the Arkansas Lottery. (2) (A) The office shall pay its operating expenses from its lottery proceeds. (B) (i) An amount of lottery proceeds determined by the office to maximize net proceeds for scholarships shall be made available as prize money. (ii) (a) Subdivision (a)(2)(B)(i) […]
(a) The Office of the Arkansas Lottery shall maintain a Scholarship Shortfall Reserve Trust Account. (b) (1) An amount equal to four percent (4%) of the total amount of net proceeds disbursed during the preceding fiscal year in the form of scholarships and grants for higher education shall be deposited from lottery proceeds each year […]
(a) (1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable. (2) As used in this section, “purposes” includes without […]
