New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 74C - EXCHANGE WAGERING
Subchapter 4 - STANDARDS FOR EXCHANGE WAGERING SYSTEM
Section 13:74C-4.2 - Review of exchange wagering account application by exchange wagering licensee; discretionary suspension or closure of exchange wagering account by exchange wagering licensee

(a) The exchange wagering licensee shall accept or reject an application for an exchange wagering account after receipt and review of the application for compliance with the Act and this chapter. The exchange wagering licensee shall verify the identification, residence, and age of the exchange wagering account applicant using methods and technologies approved by the Commission, and shall ensure that the acceptance of such application would be consistent with the Act, this chapter, and the internal control procedures of the exchange wagering licensee. Any prospective account holder who provides false or misleading information on the application is subject to rejection of the application or suspension or closing of the exchange wagering account, by the exchange wagering licensee, without prior notice.

(b) The exchange wagering licensee may additionally reject an exchange wagering application at its discretion. The exchange wagering licensee may, as permitted pursuant to (a) above, suspend or close an exchange wagering account, including where the exchange wagering account holder attempts to place an exchange wager or exchange wagers with an insufficient account balance, where the exchange wagering account holder acts contrary to N.J.A.C. 13:74C-5.6(b), or where the exchange wagering licensee otherwise determines that such action would be consistent with its proper conduct and operation of the exchange wagering system.

(c) The decision of the exchange wagering licensee to reject an application for an exchange wagering account, or to suspend or close an account, shall not be the subject of any appeal to the Commission, and shall constitute a final decision on the part of the exchange wagering licensee.

(d) Where the exchange wagering licensee suspends an exchange wagering account for a period of 48 hours or longer, or closes an exchange wagering account pursuant to this chapter, it shall file a written report with the Commission Supervisor of Mutuels identifying: the name of the exchange wagering account holder; the address of the exchange wagering account holder; the date of the suspension or closure of the exchange wagering account; and the reason for the suspension or closure of the exchange wagering account.