New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 45A - ADMINISTRATIVE RULES OF THE DIVISION OF CONSUMER AFFAIRS
Subchapter 36 - PRESCRIPTION MONITORING PROGRAM
Section 13:45A-36.10 - Annual audits
Universal Citation: NJ Admin Code 13:45A-36.10
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Fantasy sports operators shall contract with a licensed certified public accountant to perform a financial audit of the operator and submit the accountant's report to the Division annually , no later than the first day of the seventh month following the close of the fantasy sports operator's fiscal year.
(b) Along with the audit required by (a) above , fantasy sports operators shall provide an addendum prepared by a licensed certified public accountant that break s down for each quarter:
1. Total entry fees for the fantasy
sports operator;
2. Total prizes
paid out by the fantasy sports operator;
3. Total entry fees paid by participants in
New Jersey;
4. Amount in
participant accounts for participants in New Jersey; and
5. If the fantasy sports operator maintains
reserves in cash, cash equivalents, payment processor reserves and receivables,
an irrevocable letter of credit, a bond, or a combination thereof, pursuant to
N.J.A.C. 13:45A-36.9(e), a report on such reserves in cash, cash equivalents,
payment processor reserves and receivables, an irrevocable letter of credit, a
bond, or a combination thereof.
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