S.D. Admin. R. 20:18:35:35

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:18:35:35 - Form of reserve

The reserve must be in the form of:

(1) Cash or cash equivalents maintained in a U.S. bank account segregated from the licensee's or sports wagering services provider's operational funds;

(2) An irrevocable letter of credit;

(3) A bond;

(4) Payment processor reserves and receivables;

(5) Any other form acceptable to the commission pursuant to internal control procedures; or

(6) Any combination of the allowable forms described in paragraphs (1) to (6).

S.D. Admin. R. 20:18:35:35

48 SDR 014, effective 8/22/2021

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-2.1(1), 42-7B-43.