Section 426. Disposition of unpaid money due on account of pari-mutuel tickets not presented

The sum held by any  corporation  or  association
  authorized  to  conduct  pari-mutuel  betting for payment of outstanding
  winning pari-mutuel tickets and for refunding the price  of  pari-mutuel
  tickets  shall  be  retained by such corporation or association for such
  purposes until April first of the succeeding  year;  provided,  however,
  that  ninety-five  per  centum of such sum remaining unclaimed as of the
  last day of February of such  year  shall  be  paid  to  the  state  tax
  commission  by  March fifteenth. On April tenth, the balance of such sum
  remaining unclaimed and any  other  unclaimed  amount  received  in  the
  course  of conducting pari-mutuel betting shall be paid to the state tax
  commission. A penalty of five per centum and interest at the rate of one
  per centum per month from the due date to the date  of  payment  of  the
  unclaimed  balance  due  March fifteenth or April tenth, as the case may
  be, shall be payable in the case such balance is not paid when due. Such
  amounts, interest and penalties when collected  shall  be  paid  by  the
  state tax commission into the general fund of the state treasury.