Mo. Code Regs. tit. 11 § 45-40.090
Current through Register Vol. 49, No.12, June 17, 2024
Section 11 CSR 45-40.090 - Records and Record RetentionPURPOSE: This amendment changes language to be consistent with SB 87, 100th General Assembly.
(1) Each licensed operator shall maintain complete, accurate, legible, and permanent records of all transactions pertaining to its revenues, expenses, assets, liabilities, and equity. Records shall be sufficient to adequately reflect total entry fees, entry fees collected from players located in Missouri, net revenue, winnings paid, prizes awarded, and other fantasy sports contest transactions which accurately reflect the requirements and restrictions contained in this chapter and in Chapter 313, RSMo.(2) The licensed operator's accounting records shall be maintained in accordance with generally accepted accounting principles using a double entry system of accounting, with transactions recorded on the accrual basis and supported by detailed, supporting, and subsidiary records.(3) Unless the commission approves or requires otherwise in writing, each licensed operator shall retain records required by this chapter and Chapter 313, RSMo, for at least five (5) years after they are made.(4) Each licensed operator shall maintain a record, by date, of the total entry fees received from players located in the United States, grouped by state, and the total entry fees received from players located outside the United States.Adopted by Missouri Register February 15, 2017/Volume 42, Number 04, effective 3/31/2017Amended by Missouri Register May 1, 2020/Volume 45, Number 9, effective 6/30/2020