WV Lottery Approves Rule to Avoid Bounced Checks - Beckley, Bluefield & Lewisburg News, Weather, Sports

WV Lottery Approves Rule to Avoid Bounced Checks

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CHARLESTON (AP) -

The state Lottery Commission has changed the way it does its banking to avoid having its winning checks bounce.

Lottery marketing director Nikki Orcutt said since February jackpot winners have been asked to not cash their checks for at least 24 hours.

The request came after federal banking regulations changed required enough money to be in an account to cover payouts.

When the lottery was created in 1985, the law called for the account that pays winners to have no balance so money was transferred as needed to cover winning payouts. In the past, the bank cashed the check and gave the lottery time to transfer the money.

The commission approved an emergency rule May 29 to allow money to be transferred into the account.

Copyright 2012 The Associated Press.