S.D. Admin. R. 20:18:35:35 - Form of reserve

The reserve must be in the form of:

(1) Cash or cash equivalents maintained in a U.S. bank account segregated from the licensee's or sports wagering services provider's operational funds;
(2) An irrevocable letter of credit;
(3) A bond;
(4) Payment processor reserves and receivables;
(5) Any other form acceptable to the commission pursuant to internal control procedures; or
(6) Any combination of the allowable forms described in paragraphs (1) to (6).

Notes

S.D. Admin. R. 20:18:35:35
48 SDR 014, effective 8/22/2021

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-2.1(1), 42-7B-43.

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