Sec. 12-812. Duties of president.

(2) The president of the corporation, subject to the direction of the board, shall conduct retail sports wagering, online sports wagering and fantasy contests, if licensed to do so pursuant to section 12-853 . The proceeds of such wagering and contest activities shall be deposited in the lottery and gaming fund of the corporation from which winnings shall be paid and from which the payments required by sections 12-867 and 12-868 shall be made. (b) The president, subject to the direction of the board, may enter into agreements for the sale of product advertising on lottery tickets, play slips and other lottery media. (c) On a weekly basis, the president shall estimate, and certify to the State Treasurer, that portion of the balance in the lottery and gaming fund which exceeds the current needs of the corporation for the payment of prizes and winnings, the payments required by sections 12-867 and 12-868 , the payment of current operating expenses and funding of approved reserves of the corporation. The corporation shall transfer the amount so certified from the lottery and gaming fund of the corporation to the General Fund upon notification of receipt of such certification by the Treasurer, except that if the amount on deposit in the Connecticut Teachers' Retirement Fund Bonds Special Capital Reserve Fund, established in section 10-183vv , is less than the required minimum capital reserve, as defined in subsection (b) of said section, the corporation shall pay such amount so certified to the trustee of the fund for deposit in the fund. If the corporation transfers any moneys to the General Fund at any time when the amount on deposit in said capital reserve fund is less than the required minimum capital reserve, the amount of such transfer shall be deemed appropriated from the General Fund to the Connecticut Teachers' Retirement Fund Bonds Special Capital Reserve Fund. (d) On a monthly basis, the president shall estimate and certify to the Secretary of the Office of Policy and Management, the amount that the corporation transferred to the General Fund, pursuant to subsection (c) of this section and section 12-867 , that was from the proceeds of retail sports wagering at a retail sports wagering facility at the XL Center in Hartford that exceeds the payment of prizes and winnings, the payment of any federal excise taxes applicable to such sums received, the payment of current operating expenses and the funding of approved reserves of the corporation.