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Can you summarize AZAC Title 19, Chapter 4, Article 2, Section 7?
FANTASY SPORTS > Internal Control System
Short Summary
This legal document outlines the requirements for operating fantasy sports contests in the State. Responsible parties must have a written internal control system approved by the Department of Gaming. The internal control system should ensure the safeguarding of assets, accurate financial records, proper authorization for transactions, appropriate segregation of duties, and compliance with sound practices. The document specifies various procedures that should be included in the internal control system, such as verifying geolocation services, monitoring security incidents, mitigating risk of fraud and money laundering, and handling player disputes. Responsible parties must obtain written approval from the Department for the internal control system and any material changes. They are also required to maintain accurate and detailed records of all transactions and operate separate bank accounts for fantasy sports contest activities. The document emphasizes the importance of responsible gaming practices and the identification and prohibition of prohibited participants. Overall, the document aims to ensure the integrity and accountability of fantasy sports contests in the State.
Whom does it apply to?
Responsible parties operating fantasy sports contests in the State
What does it govern?
Internal control system for fantasy sports contests
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Arizona