4-33-24-22. Game Operator Preventative Measures
Sec. 22. A game operator shall take reasonable steps to do the following: (1) Prevent the participation in paid fantasy sports games of individuals who have restricted themselves from entering paid fantasy sports games. (2) Prevent game participants from entering more than the maximum number of allowed paid fantasy sports games. As added by P.L.212-2016, […]
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 […]
4-33-23-13. Economic Development Payments; Deposits
Sec. 13. (a) Any recipient of an economic development payment must deposit the economic development payment into a separate and segregated bank account not later than five (5) days after its receipt. (b) The bank account referenced in subsection (a): (1) must allow expenditures only in accordance with the terms of the development agreement; (2) […]
4-33-24-12. Powers and Duties; Adoption of Rules
Sec. 12. (a) Except as provided in subsection (c), the division has the following powers and duties for purposes of administering, regulating, and enforcing the system of paid fantasy sports under this chapter: (1) All powers and duties in this chapter. (2) All powers necessary and proper to fully and effectively execute this chapter. (3) […]
4-33-23-14. Development Agreement Modifications
Sec. 14. (a) If all parties to a development agreement agree to modify the development agreement, the parties shall: (1) submit to the commission a written request for modification, which shall be signed by all parties; (2) submit a copy of the development agreement as it would appear after modification; and (3) submit a document […]
4-33-24-13. Adoption of Rules
Sec. 13. (a) The division shall adopt rules under IC 4-22-2, including emergency rules under IC 4-22-2-37.1, to implement this chapter, including rules for the following purposes: (1) Administering this chapter. (2) Providing for the prevention of practices detrimental to the public interest and providing for the best interests of paid fantasy sports. (3) Establishing […]