Minimum Purse Distributions

The amount credited to each licensee shall be based on a formula established by the commission and, in no instance, shall the amount paid to the purse account ofeachlicensee be less than$400,000 unless the commission collects insufficient funds to make such minimum payment to all licensees. Should the commission deem that sufficient funds are available, the commission may distribute $100,000 as a quarterly minimum payment to the purse account of each licensee, upon authorization of the commissioners, for the quarters ended March, June, September, and December.