This legal document governs the process of acquiring a financial service center bank in Virginia. It applies to applicants who wish to acquire such banks. The applicant must file an application with the Bureau of Financial Institutions using the prescribed form and pay the required fee. The Bureau will investigate the application and may request additional information. Once the application is accepted, the Bureau will publish notice of the application. If a written objection is filed, a hearing may be established.

This legal document governs the conversion of a state mutual savings and loan association to a stock association. It is authorized by 6.2-1139 of the Code of Virginia and requires compliance with the Virginia Non-Stock Corporation Act and regulations from the federal Office of Thrift Supervision (OTS) regarding mutual-to-stock conversions. The document outlines the process for conversion, including the application for conversion, which requires a filing fee and specific accompanying documents.

These legal documents pertain to state savings institution holding companies in Virginia. They cover various aspects such as the authority of the State Corporation Commission to order a holding company to cease and desist actions detrimental to the safety or soundness of a state savings institution, reporting requirements for holding companies, examination powers of the Bureau of Financial Institutions, and the application process for acquiring or controlling state savings institutions or holding companies.

The first legal document governs the provision of employee benefits for state-chartered credit unions. It allows state-chartered credit unions to provide reasonable employee benefits, including retirement benefits, to their employees and officers. The document also outlines the investment options and compliance requirements for employee benefit plans and defined benefit plans. State-chartered credit unions are not considered fiduciaries under the Employee Retirement Income Security Act (ERISA) and the regulations adopted by the U.

This document governs the implementation of a responsible gaming program by licensees conducting pari-mutuel wagering on historical horse racing in Virginia. The program requires licensees to take several measures to promote responsible gaming and provide assistance to problem gamblers. These measures include posting a toll-free number for problem gambling assistance, providing informational materials on the dangers of problem gambling, including information on problem gambling in promotional materials, auditing patron activity to identify those with significant financial losses, providing training to employees to identify patrons who have consumed excessive amounts of alcohol, partnering with problem gambling organizations, providing training to employees on responding to gambling problem situations, and honoring self-exclusion requests from patrons.

This document provides definitions for various terms used in the chapter related to sports betting in the Virginia Administrative Code. It applies to individuals and entities involved in sports betting in the Commonwealth of Virginia. The document defines terms such as ‘ACH’, ‘Adjusted gross revenue’, ‘Affiliate’, ‘Cheating’, ‘College sports’, ‘Gross revenue’, ‘Principal’, ‘Sports betting’, and many others. The definitions provided in this document help in understanding the legal framework and terminology related to sports betting in Virginia.

This section of the Virginia Administrative Code governs investigations and reporting related to sports betting. It applies to regulated entities, which include permit holders, license holders, and registrants. Regulated entities are required to cooperate in good faith with investigations conducted by the director, sports governing bodies, or law enforcement agencies. They must provide account-level betting information, data files, and any other necessary information for investigations. The director has the authority to enter the premises of regulated entities during normal business hours to inspect equipment, books, and records.

This document outlines the requirements for house rules that must be adopted by sports betting permit holders in Virginia. The permit holders are required to submit comprehensive house rules to the director for approval along with their initial application for a permit. Amendments to the house rules also need to be submitted for approval. The house rules should cover various aspects including the calculation and payment of winning wagers, the effect of schedule changes, notifying players of odds or proposition changes, acceptance of wagers at terms other than those posted, contacting the permit holder for questions and complaints, description of prohibited individuals and others who may be restricted from placing a wager, permissible methods of funding a wager, and a description of all types of wagers that may be accepted.

This document outlines the requirements for sports betting platforms in the Commonwealth of Virginia. It states that all wagers on sporting events must be initiated, received, and made within Virginia, unless permitted by federal law. The document also requires permit holders to submit their equipment and software to an approved independent testing laboratory. The sports betting platform must include a comprehensive description and explanation, detailed operating procedures, and a risk management framework.

This document outlines the internal control standards that permit holders and their sports betting platform suppliers must develop and maintain. These standards should meet or exceed industry standards as approved by the director. The internal control standards for permit holders should address various aspects, including safeguarding assets and revenues, safeguarding player accounts, requirements for internal and independent audits, user access controls, segregation of duties, risk management procedures, procedures for identifying and reporting fraud and suspicious wagering activity, procedures for preventing sports betting by prohibited individuals, AML compliance standards, description of available wager types, description of integrated third-party hardware, software, or systems, a monitoring system to identify irregularities in volume or odds, and a maximum wager threshold for identifying unusual or suspicious wagering.