Tennessee § 4-49-110 Financial practices - Audits of licensees - Post-employment restrictions

Tennessee Statutes

§ 4-49-110 — Financial practices - Audits of licensees - Post-employment restrictions

Tennessee § 4-49-110

Title4

This text of Tennessee § 4-49-110 (Financial practices - Audits of licensees - Post-employment restrictions) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 4-49-110 (2026).

Text

The council shall prescribe by rule:

(1)Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for:

(A)Safeguarding assets and revenues, including evidence of indebtedness;

(B)Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management;

(2)Requirements for internal and independent audits of licensees;

(3)The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports;

(4)The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements

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The council shall prescribe by rule: (1) Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: (A) Safeguarding assets and revenues, including evidence of indebtedness; (B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management; (2) Requirements for internal and independent audits of licensees; (3) The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports; (4) The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part; (5) Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and (6) Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state.

Legislative History

Renumbered from T.C.A. s4-51-310by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Amended by 2021 Tenn. Acts, ch. 593, s 27, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.