Mich. Admin. Code R. 432.544b - Failed ACH deposits
Rule 544b. A fantasy contest operator or licensed management company must implement commercially reasonable procedures and internal controls to address failed ACH deposits, subject to both of the following conditions:
(a) A failed ACH
deposit attempt is not considered fraudulent if the fantasy contest player has
successfully deposited funds via an ACH transfer on a previous occasion with no
outstanding chargebacks.
(b) A
fantasy contest operator or licensed management company must investigate any
failed ACH deposit the fantasy contest operator or licensed management company
considers potentially fraudulent. If a failed ACH deposit is deemed fraudulent,
the fantasy contest operator or licensed management company must immediately
suspend the fantasy contest player account in accordance with
R 432.548.
Notes
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