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
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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