Section R. 432.523 - Fees, fines, taxes, payments, and assessmentsRule 523.
(1) All fees, fines, taxes, payments, and assessments provided for under the act and these rules must be timely submitted to the board by a payment method acceptable to the board, which includes, but is not limited to, a certified check, cashier's check, money order made payable to "State of Michigan," or electronic transfer of funds.(2) The following initial license fees must be submitted to the board, together with the required license application, by an applicant for an initial license under the act and these rules: (a) Fantasy contest operator initial license fee: $10,000.00.(b) Management company initial license fee: $5,000.00.(3) The initial license fee shall be used by the board to conduct an appropriate background investigation of the applicant as prescribed by the board, the act, and these rules. An additional background investigation charge may be assessed to the extent the board's direct investigative costs exceed the applicant's initial license fee. Unless otherwise determined by the board, a license may not be issued until payment of the additional assessed charge for completion of the background investigation is received by the board.(4) A licensee may also be assessed the board's direct investigative costs arising from a background investigation for renewal of a license to the extent such costs exceed the annual license renewal fee. The board may deny a renewal application if the licensee does not pay the additional assessed costs by a date set by the board.(5) The following annual license renewal fees must be submitted to the board by a licensee each year at the time the licensee applies to renew its license under the act and these rules: (a) Fantasy contest operator annual license renewal fee: $5,000.00(b) Management company annual license renewal fee: $5,000.00.Mich. Admin. Code R. 432.523
2023 MR 20, Eff. 10/11/2023