4-33-24-23. Segregation of Game Participant Funds
Sec. 23. A game operator shall segregate the funds of game participants from the operational funds of the game operator. As added by P.L.212-2016, SEC.2.
4-33-24-24. Financial Reserves
Sec. 24. For the protection of the funds of game participants held in paid fantasy sports game accounts, a game operator shall maintain a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination of these sources that is equal to the amount of money deposited in […]
4-33-24-25. Certified Public Accountant Contracts
Sec. 25. A game operator shall contract annually with a certified public accountant to perform a financial audit of the game operator’s paid fantasy sports game operations under this chapter to ensure compliance with this chapter. The game operator shall submit the results of the audit to the division. The same certified public accountant may […]
4-33-24-26. Civil Penalties
Sec. 26. The division may impose a civil penalty upon a game operator, a licensee, or an employee of a game operator or a licensee for a violation of this chapter. The maximum amount of a civil penalty imposed under this section for a particular violation is one thousand dollars ($1,000). The division shall deposit […]
4-33-24-27. Entry Fees and Revenues Received by a Licensee
Sec. 27. Entry fees and other revenues received by a licensee under a contract with a game operator for conducting paid fantasy sports games are not considered to be received from a licensee’s gaming operations and are not subject to: (1) a wagering tax imposed under IC 4-33-13 or IC 4-35-8; (2) the fee imposed […]
4-33-24-28. Fantasy Sports Regulation and Administration Fund
Sec. 28. (a) The fantasy sports regulation and administration fund is established to provide for the administration of this chapter. (b) The fund consists of: (1) any fees and civil penalties deposited in the fund under this chapter; (2) any money appropriated to the fund by the general assembly; and (3) any earnings on amounts […]
4-33-24-29. Delinquent Child Support; Duties Related to Interception of Winnings
Sec. 29. (a) This section applies beginning July 1, 2017. (b) The bureau shall provide information to a game operator or licensee concerning persons who are delinquent in child support. (c) If a permit holder or trustee is required to file Form 1099 or a substantially equivalent form with the United States Internal Revenue Service […]
4-33-24-30. Game Operator Prohibited Conduct
Sec. 30. A game operator may not: (1) advertise a paid fantasy sports contest in any publication or medium that is aimed exclusively to juveniles; or (2) advertise a paid fantasy sports contest or run promotional activities concerning a paid fantasy sports contest at: (A) elementary schools, as defined by IC 20-18-2-4; (B) high schools, […]
4-33-24-15. Game Operator Requirements; Fees
Sec. 15. (a) A game operator must: (1) be authorized to transact business in Indiana under IC 23; and (2) pay to the division the initial fee imposed under subsection (b). (b) A game operator shall pay to the division an initial fee of at least fifty thousand dollars ($50,000) for the privilege of conducting […]
4-33-24-16. Game Operator Requirements
Sec. 16. A game operator must do the following to conduct paid fantasy sports games under this chapter: (1) Provide written notice to the division of the game operator’s intent to conduct paid fantasy sports games under this chapter. (2) Submit for the division’s approval any proposed contract with a licensee through which the game […]