Code of Maine Rules
16 - DEPARTMENT OF PUBLIC SAFETY
633 - GAMBLING CONTROL BOARD
Chapter 28 - ADVANCE DEPOSIT WAGERING
Section 633-28-5 - RESPONSIBILITIES OF ADVANCE DEPOSIT WAGERING LICENSEE
Current through 2024-38, September 18, 2024
A. Prior to licensing the prospective advance deposit wagering licensee must present to the Board a detailed plan of operation. The detailed plan of operation for an advance deposit wagering license must include, but is not limited to, the following information:
The Board may require changes in a proposed plan of operations, as a condition of granting a license. No subsequent changes in the system's operation may occur unless ordered by the Board or until approval is obtained from the Board after it receives a written request.
B. An advance deposit wagering licensee shall submit quarterly reports to the Board providing amounts wagered by Maine residents, amounts wagered in Maine and other account wagering information as requested by the Board.
C. An advance deposit wagering licensee shall not commingle account funds with other funds.
D. An advance deposit wagering licensee that establishes account wagering shall establish and maintain a separate restricted account with a federally insured financial institution or a federally insured credit union that is authorized to do business in the State of Maine as defined in Maine Revised Statute, Title 9-B or is subject to a statutory exception for being authorized to do business in the state and with an office, registered agent and/or clerk within the state of Maine.
E. The amount placed in the restricted account established in 5.D above shall be an amount equal to or greater than the total account wagering monies held by all account holders including amounts owed for winning wagers which have not yet been settled. The advance deposit wagering licensee shall provide the Board with all data used to calculate the restricted account amount and a bank statement showing the balance in the restricted account.
F. The advance deposit wagering licensee shall calculate and submit to the Board the actual amount of the account balance on the last day of the month of the total account wagering monies held by all account holders including amounts owed for winning wagers which have not yet been settled. The advance deposit wagering licensee shall provide the Board with the report and all data used to calculate the balance within ten (10) business days of the end of the month for which the balance is determined.
The advance deposit wagering licensee shall submit to the Board a monthly bank statement by the 15th day of each month for the previous month.
G. All systems used for processing wager transactions will be approved by the Board.
H. An advance deposit wagering licensee shall maintain complete records of each account application and the opening of each account for the life of the account plus two (2) additional years. An advance deposit wagering licensee shall also maintain complete records of the closing of an account for two (2) years after closing. These records shall be provided to the Board upon request.
I. An advance deposit wagering licensee shall maintain complete records of all transactions, including deposits, credits, debits, refunds, withdrawals, fees, wagers, rebates, and earnings for five (5) years. These records shall be provided to the Board upon request.
J. All wagering conversations, transactions, or other wagering communications, verbal or electronic, shall be recorded by means of the appropriate electronic media, and the tapes or other records of the communications shall be kept by the advance deposit wagering licensee for a period of two (2) years. These tapes and other records shall be made available to the Board upon request.
K. An advance deposit wagering licensee shall not accept wagers if the appropriate recording system is not operable.
L. When an advance deposit wagering licensee ceases operating and its license lapses, is surrendered or is revoked, the Board may demand payment of the restricted account. The Board may interplead the funds in court for distribution to the patrons for whose protection and benefit the restricted account was established and to such other persons as the court determines are entitled thereto, or shall take such other steps as are necessary to effect the proper distribution of the funds, or may do both.
