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Can you summarize LAAC Title 42, Part III, Chapter 27, Section 2707?
Accounting Regulations > Record Retention
Short Summary
This regulation, found in the Louisiana Administrative Code under the Gaming Control Board’s Accounting Regulations, governs the record retention requirements for licensees and casino operators in the gaming industry. According to the regulation, each licensee and casino operator must provide the division with the required records and retain them for a minimum of five years in a location approved by the division. In case of a change of ownership, records of prior owners must also be retained for five years, unless authorized differently by the division. Electronic records can be maintained in other locations if access is available on approved computers. Additionally, licensees and casino operators must conduct a monthly complete system data backup to an off-site location and submit the details of the off-site storage facility to the division. They are also required to have a written contingency plan in case of system failure or data loss. The regulation does not mention any specific penalties for non-compliance.
Whom does it apply to?
Licensees and casino operators in Louisiana
What does it govern?
Record retention for licensees and casino operators in the gaming industry
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Louisiana