Md. Code Regs. 03.10.01.04

Current through Register Vol. 51, No. 24, December 2, 2024

Section 03.10.01.04 - Annual Report and Record-Keeping Requirements

A. Annual Report.

(1) On or before August 1 of each year, a licensee shall file an annual report with the Comptroller for the preceding reporting year.

(2) The annual report shall be submitted by mail or electronically in a form approved by the Comptroller.

(3) Charitable Disbursements.

(a) The annual report shall show that the licensee has made and met the charitable disbursement requirement under Criminal Law Article, § 12-304(c), Annotated Code of Maryland, on or before the due date of the report.

(b) Information regarding each charitable disbursement shall include the name and address of the charitable organization receiving the disbursement, the charitable organization's federal employer identification number, and a copy of a receipt from or a cancelled check to the charitable organization receiving the disbursement identifying the date and the amount of the disbursement.

(4) Filing Requirements.

(a) If a licensee fails to file a full and complete annual report by August 1, the Comptroller shall mail a notice within 30 days demanding that the report be filed within 10 days of the date on the notice.

(b) The Comptroller may suspend or revoke the license of each slot machine licensed to the licensee for a licensee's failure to file a complete annual report.

B. Audits.

(1) The Comptroller may examine or audit an annual report filed by a licensee.

(2) To determine whether an annual report is correct or otherwise to enforce this chapter, the Comptroller may:

(a) Examine any records, data, or other documents that may support the information included in the annual report;

(b) Conduct an investigation; and

(c) Hold a hearing.

C. Record-Keeping Requirements.

(1) A licensee shall keep the records substantiating the information required for the annual report for a period of 4 years or for a shorter time as determined by the Comptroller.

(2) A licensee shall make the records available for inspection and examination by the Comptroller at any time during business hours.

(3) A licensee must keep a separate accounting of proceeds and disbursements from its slot machines.

(4) Except as otherwise provided in this regulation, a licensee shall comply with the record-keeping requirements of COMAR 03.01.03.

Md. Code Regs. 03.10.01.04