Ask Reggi Your Question Now
Can you summarize WAAC 230-06-120?
Rules for all licensees. > Selling or transferring gambling or sports wagering equipment when no longer licensed.
Short Summary
This provision, found in the Washington Administrative Code under the Gambling Commission’s Rules for all licensees, governs the sale or transfer of gambling or sports wagering equipment when a license has been revoked, expired, or voluntarily surrendered. In such cases, the equipment can only be sold or transferred to a licensed manufacturer, distributor, or sports wagering vendor, in accordance with all applicable laws and rules, including WAC 230-06-110. The transfer must be completed within thirty days of the license becoming invalid. Distributors must use the cash or credit against amounts owed to manufacturers. Operators, distributors, or sports wagering vendors selling the equipment must report a complete inventory of all transferred equipment, including commission I.D. stamps, to the Gambling Commission within ten days of the transaction. Manufacturers, distributors, or sports wagering vendors receiving the equipment must prepare a credit memorandum and retain it with their records.
Whom does it apply to?
Operators, distributors, and sports wagering vendors
What does it govern?
Selling or transferring gambling or sports wagering equipment when no longer licensed
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Washington