§ 1012-A — Multi-jurisdictional account wagering providers

§ 1012-a. Multi-jurisdictional account wagering providers. A\nmulti-jurisdictional account wagering provider shall only be licensed\nunder the following conditions:\n 1. the multi-jurisdictional account wagering provider is licensed by\nthe state in which it is located and, if required, by each state in\nwhich it operates;\n 2. the character and the background of the multi-jurisdictional\naccount wagering provider is such that granting the applications for a\nlicense is in the public interest and the best interest of honest horse\nracing;\n 3. the multi-jurisdictional account wagering provider shall utilize\nthe services of an independent third party to perform identity and\nverification services with respect to the establishment of wagering\naccounts for persons who are residents of the state of New York;\n 4. the commission shall be allowed access to the premises of the\nmulti-jurisdictional account wagering provider to visit, investigate\nand, place such expert accountants and other persons it deems necessary\nfor the purpose of insuring compliance with the rules and regulations of\nthe commission;\n 5. if not already registered, the multi-jurisdictional account\nwagering provider shall agree promptly to take those steps necessary to\nqualify to do business in New York state, and to maintain such status in\ngood standing throughout the license period;\n 6. multi-jurisdictional account wagering providers shall:\n (a) pay a market origin fee equal to five and forty-five hundredths\npercent on each wager accepted from New York residents.\n (b) pay an additional fee equal to one percent on each wager accepted\nfrom New York residents which shall be directed to the general fund of\nthe state treasury.\n (c) make the required payments to the market origin account on or\nbefore the fifth business day of each month and such required payments\nshall cover payments due for the period of the preceding calendar month;\nprovided, however, that such payments required to be made on April\nfifteenth shall be accompanied by a report under oath, showing the total\nof all such payments, together with such other information as the\ncommission may require. A penalty of five percent and interest at the\nrate of one percent per month from the date the report is required to be\nfiled to the date the payment shall be payable in case any payments\nrequired by this subdivision are not paid when due. If the commission\ndetermines that any moneys received under this subdivision were paid in\nerror, the commission may cause the same to be refunded without interest\nout of any moneys collected thereunder, provided an application therefor\nis filed with the commission within one year from the time the erroneous\npayment was made. The commission shall pay into the racing regulation\naccount, under the joint custody of the comptroller and the commission,\nthe total amount of the fee collected pursuant to paragraph (a) of this\nsubdivision.\n