Iowa § 99G.28 - 99G.28 Proceeds held in trust.
Full text of Iowa Iowa Code § 99G.28 — 99G.28 Proceeds held in trust., with citation guidance and answers to common questions.
§ 99G.28. 99G.28 Proceeds held in trust.
All proceeds from the sale of the lottery tickets or shares shall constitute a trust fund until paid to the department directly, through electronic funds transfer to the department, or through the department’s authorized collection representative. A lottery retailer and officers of a lottery retailer’s business shall have a fiduciary duty to preserve and account for lottery proceeds and lottery retailers shall be personally liable for all proceeds. Proceeds shall include unsold products received but not paid for by a lottery retailer and cash proceeds of the sale of any lottery products net of allowable sales commissions and credit for lottery prizes paid to winners by lottery retailers. Sales proceeds of pull-tab tickets shall include the sales price of the lottery product net of allowable sales commission and prizes contained in the product. Sales proceeds and unused instant tickets shall be delivered to the department or its authorized collection representative upon demand. 2003 Acts, ch 178, §81, 121; 2003 Acts, ch 179, §142; 2023 Acts, ch 19, §2331; 2024 Acts, ch 1182, §106 Wed Dec 10 22:38:24 2025 Iowa Code 2026, Section 99G.28 (21, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 99G.28
What does Iowa Code § 99G.28 cover?
Section 99G.28 ("99G.28 Proceeds held in trust.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 99G.28?
A common citation format is "Iowa Code § 99G.28" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 99G.28 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.