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Can you summarize 16-633 MECM Ch. 41?
Fantasy Contests > Licensee Records, Annual Reporting and Audits
Short Summary
This legal document, Chapter 41 of the Code of Maine Rules under the Department of Public Safety’s Gambling Control Unit, governs the requirements for Licensee Records, Annual Reporting, and Audits for fantasy contest operators in the state of Maine. The document specifies that fantasy contest operators must maintain records of fantasy contestant accounts for a period of five years and make them available for inspection upon request by the director or the director’s designee. Additionally, operators are required to submit an annual report to the director and provide certain additional information upon request, such as the number of fantasy contestants in Maine who requested deposit limit increases, the number of accounts where a fantasy contestant was identified as a minor, and the number and amount of refunds given to fantasy contestants. The director is also authorized to conduct financial audits of licensed fantasy contest operators to ensure compliance with the relevant statutes. Fantasy contest operators must provide a copy of the audit report to the director by June 30th of each year. The effective date of this document is June 13, 2021.
Whom does it apply to?
Fantasy contest operators
What does it govern?
Licensee Records, Annual Reporting and Audits
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Maine