S.D. Admin. R. 20:18:36.30

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:18:36.30 - Inactive accounts

The advance deposit wagering licensee may close any wagering account that has no activity for at least three years.

For purposes of this section, the term "activity" means making a wager, making an account deposit, or withdrawing funds.

The licensee shall:

(1) Allow access to a player's inactive account only after performing additional identity verifications;

(2) Protect inactive accounts that contain funds from unauthorized access, changes, or removal; and

(3) Deal with unclaimed funds from inactive accounts, and return any remaining funds to the player where possible.

No advance deposit wagering licensee may charge an administration fee or maintenance fee for any inactive account.

The advance deposit wagering licensee shall treat inactive accounts as unclaimed property and comply with the provision of SDCL chapter 43-41.

S.D. Admin. R. 20:18:36.30

48 SDR 014, effective 8/22/2021

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

Law Implemented: SDCL 42-7B-77.