Mich. Admin. Code R. 432.544d - Fantasy contest player account withdrawal

Rule 544d.

(1) A fantasy contest player must be allowed to withdraw the funds maintained in his or her fantasy contest player account, whether the account is open or closed, except as otherwise provided in these rules or any applicable state or federal law.

(2) A fantasy contest operator or licensed management company must honor the fantasy contest player's request to withdraw funds within 10 business days after the request, unless the conditions set forth in subrule (3) of this rule are met.

(3) The fantasy contest operator or licensed management company may decline to honor a fantasy contest player's request to withdraw funds only if the fantasy contest operator or licensed management company believes in good faith that the fantasy contest player engaged in either fraudulent conduct or other conduct that would put the fantasy contest operator or licensed management company in violation of the act and these rules or any other applicable state or federal law. In such cases, the fantasy contest operator or licensed management company must do all of the following:

(a) Provide notice to the fantasy contest player of the nature of the investigation of the fantasy contest player account.

(b) Conduct its investigation in a reasonable and expedient fashion, providing the fantasy contest player additional written notice of the status of the investigation every tenth business day starting from the day the original notice was provided to the fantasy contest player.

(4) For purposes of this rule, a request for withdrawal is considered honored if it is processed by the fantasy contest operator or licensed management company notwithstanding a delay by a payment processor, credit card issuer, or the custodian of a financial account.

Notes

Mich. Admin. Code R. 432.544d

2023 MR 20, Eff. 10/11/2023