Licensees to Authorize Electronic Funds Transfer (EFT)

PURPOSE: The purpose of this rule is to require licensed retailers to authorize transfer by electronic funds from their bank account. (1) Licensees shall authorize the debiting of an account in their names for the purpose of electronic funds transfer to a collection account. (A) The licensee shall execute all forms required by his/her bank and any forms required by the transferring bank. (B) The licensee, at his/her option, may establish a separate account for the purpose of transferring funds electronically to the Missouri State Lottery Fund. (2) For persons applying for a retail license, the documents required by this rule shall be executed prior to the issuance of a license. AUTHORITY: section 313.220, RSMo 2016.* Original rule filed Jan. 10, 1986, effective Jan. 20, 1986. Amended: Filed May 5, 1986, effective May 15, 1986. Amended: Filed July 15, 2014, effective Feb. 28, 2015. Amended: Filed Dec. 27, 2017, effective June 30, 2018. *Original authority: 313.220, RSMo 1985, amended 1988, 1993, 1995, 2003.