N.Y. Comp. Codes R. & Regs. tit. 9 § 5605.8

Current through Register Vol. 46, No. 53, December 31, 2024
Section 5605.8 - Contestant withdrawals

Each interactive fantasy sports registrant shall establish a protocol by which contestants can withdraw funds maintained in their accounts, whether such accounts are open or closed. Such requests for withdrawals must be honored by the later of five business days of the request or 10 business days of submission of any tax reporting paperwork required by law, unless the registrant believes in good faith that the contestants engaged in either fraudulent conduct or other conduct that would put the registrant in violation of this Chapter, in which case the registrant may decline to honor the request for withdrawal for a reasonable investigatory period until such investigation is resolved if such registrant provides notice of the nature of the investigation to the contestant. For the purposes of this paragraph, a request for withdrawal will be considered honored if such request is processed by the registrant but delayed by a payment processor, credit card issuer or by the custodian of a financial account.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5605.8

Adopted New York State Register October 18, 2023/Volume XLV, Issue 42, eff. 10/18/2023