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Can you summarize 4 CACR Division 4, Article 26?
California Horse Racing Board > Advance Deposit Wagering
Short Summary
This legal document outlines the requirements and procedures for out-of-state Applicants seeking approval to conduct Advance Deposit Wagering in California. The Applicant must be Board-approved and comply with the provisions of Business and Professions Code section 19460 et. seq. The Applicant is required to complete an Application For Approval to Conduct Advance Deposit Wagering, accompanied by a $500,000 bond or other form of financial security. Security access policies and safeguards must be established, and a full accounting and verification of wagers from California residents must be provided. Financial information demonstrating the resources to operate Advance Deposit Wagering and a detailed budget are also required. The Board may conduct investigations, inspections, and request additional information as necessary. The Applicant must allow access for review and audit of all records and may be required to submit audited financial statements. Advertisements must include certain statements and contact information for problem-gambling support. The Board has specific timelines for reviewing and approving or denying the Application, and the Applicant has the right to request reconsideration or file for judicial review if denied. Changes or amendments to the Application may be permitted by the Board. The out-of-state Applicant must designate a California agent for service of process and consents to the jurisdiction of California courts and the application of California law. This document provides the necessary guidelines for out-of-state Applicants to obtain approval for conducting Advance Deposit Wagering in California.
Whom does it apply to?
Out-of-state Applicants seeking approval to conduct Advance Deposit Wagering in California
What does it govern?
Advance Deposit Wagering
What are exemptions?
No specific exemptions are mentioned in the document.
What are the Penalties?
No specific penalties are mentioned in the document.
Jurisdiction
California