(1) Each retailer licensed with the lottery to sell instant tickets shall establish an account for deposit of moneys derived from instant game sales with a financial institution that has the capability of electronic funds transfer (EFT) and shall make payment of all moneys due the lottery through the EFT account. Funds generated from the sale of instant tickets are held in trust by the retailer until transfer to the lottery.

(2) Each retailer shall make deposits periodically to its EFT account sufficient to cover moneys due the lottery. The director shall specify the days on which moneys due shall be withdrawn by EFT. Moneys not deposited by a specified day of withdrawal shall be overdue and delinquent.