"Administrator" means the administrator of the
racing and gaming commission or the administrator's designee.
"Coin" means tokens, nickels, and quarters of
legal tender.
"Commission" means the racing and gaming
commission.
"Currency" means any coin or paper money of
legal tender and paper forms of cashless wagering.
"Discount rate" means either the current prime
rate as published in the Wall Street Journal or a blended rate computed by
obtaining quotes for the purchase of qualified investments at least three times
per month.
"Distributor's license" means a license issued
by the administrator to any entity that sells, leases, or otherwise distributes
gambling games or implements of gambling to any entity licensed to conduct
gambling games pursuant to Iowa Code chapter 99F.
"Facility" means an entity licensed by the
commission to conduct gaming operations in Iowa.
"Facility grounds" means all real property
utilized by the facility in the conduct of its gaming activity, including the
grandstand, concession stands, offices, parking lots, and any other areas under
the jurisdiction of the commission.
"Gambling game" means any game of chance
approved by the commission for wagering, including, but not limited to,
gambling games authorized by this chapter.
"Government sponsored enterprise debt
instrument" means a negotiable, senior, noncallable debt obligation
issued by an agency of the United States or an entity sponsored by an agency of
the United States that on the date of funding possesses an issuer credit rating
equivalent to the highest investment grade rating given by Standard &
Poor's or Moody's Investment Services.
"Implement of gambling" means any device or
object determined by the administrator to directly or indirectly influence the
outcome of a gambling game; collect wagering information while directly
connected to a gambling game; facilitate the operation of an electronic
wagering account as defined by rule 491-12.1 (99F); or be integral to the
conduct of a commission-authorized gambling game.
"Independent financial institution" means a
bank approved to do business in the state of Iowa or an insurance company
admitted to transact insurance in the state of Iowa with an A.M. Best insurance
rating of "A" or other equivalent rating.
"Manufacturer's license" means a license
issued by the administrator to any entity that assembles, fabricates, produces,
or otherwise constructs a gambling game or implement of gambling used in the
conduct of gambling games pursuant to Iowa Code chapter 99F.
"Present value" means the current value of a
future payment or series of payments, discounted using the discount
rate.
"Qualified investment" means an Iowa state
issued debt instrument, a United States Treasury debt instrument or a
government sponsored enterprise debt obligation.
"Reserve" means an account with an independent
financial institution or brokerage firm consisting of cash, qualified
investments, or other secure funding method approved by the administrator used
to satisfy periodic payments of prizes.
"Slot machine" means a mechanical or
electronic gambling game device into which a player may deposit currency or
forms of cashless wagering and from which certain numbers of credits are
awarded when a particular configuration of symbols or events is displayed on
the machine.
"Storage media" means EPROMs, ROMs,
flash-ROMs, DVDs, CD-ROMs, compact flashes, hard drives and any other types of
program storage device.
Notes
Iowa Admin. Code r. 491-11.1
ARC 7757B, IAB 5/6/09,
effective 6/10/09; ARC 8029B, IAB 8/12/09, effective 9/16/09; ARC 9987B, IAB
2/8/12, effective 3/14/12; ARC 1456C, IAB 5/14/2014, effective 6/18/2014
Amended by
IAB
February 1, 2017/Volume XXXIX, Number 16, effective
3/8/2017
Amended by
IAB
February 10, 2021/Volume XLIII, Number 17, effective
3/17/2021
