N.J. Admin. Code § 13:74C-3.4

Current through Register Vol. 56, No. 24, December 18, 2024

Section 13:74C-3.4 - Racing Commission regulatory costs

(a) Except as provided at (b) and (c) below, or as otherwise provided in this chapter, the exchange wagering licensee shall be directly responsible for the timely payment of all Commission costs and expenses related to the investigation, regulatory oversight, and regulatory administration of the exchange wagering system. Such costs shall be reimbursed to the exchange wagering licensee, from exchange revenues, as authorized at N.J.S.A. 5:5-180a and N.J.S.A. 5:5-171.b and N.J.A.C. 13:74C-3.5.

(b) Notwithstanding the provisions at (a) above, in the event the business activity and functions associated with the exchange wagering system are proposed to be conducted or situated outside this State, and a petition is filed with the Commission for such approval consistent with N.J.A.C. 13:74C-3.3, the person or entity who is proposed to directly provide those out-of-State services in connection with the exchange wagering system shall be responsible for the payment to the Commission of the regulatory costs associated with compliance with N.J.A.C. 13:74C-3.3(b).

(c) Notwithstanding the provisions at (a) above, provided that the Commission grants a related waiver of the in-State requirement for business activities and functions pursuant to N.J.A.C. 13:74C-3.3, the person or entity who is to directly provide those services outside this State, in connection with the exchange wagering system, shall be responsible for the direct payment to the Commission of all regulatory costs associated with compliance with N.J.A.C. 13:74C-3.3(a)5. Such person or entity shall additionally be responsible for any investigative, and travel-related costs associated with the Commission's investigation into any matter reasonably resulting or associated with the business activities and functions approved by the Commission to be conducted or situated outside this State.

N.J. Admin. Code § 13:74C-3.4

Adopted by 47 N.J.R. 807(b), effective 4/20/2015.

Adopted by 56 N.J.R. 413(a), effective 3/18/2024