Section 71 IAC 9-2.2-10 - Administration of advance deposit wagering accountsAuthority: IC 4-31-7.5-11
Affected: IC 4-31
Sec. 10.
(a) Each account holder's advance deposit wagering account shall be administered in accordance with the advanced wagering deposit terms of agreement submitted by the licensed SPMO and approved by the commission, including, but not limited to: (6) fees, if any, per wager.(b) Credits to an account after the initial establishment of the account may be made as follows: (1) Deposits to an account by an account holder may be made in the following forms:(A) cash, which may be deposited at outlets designated by the licensed SPMO;(B) check, money order, or negotiable order of withdrawal given or sent to a licensed SPMO;(C) charges made to an account holder's credit card or debit card upon the direct and personal instruction of the account holder, if the use of the card has been approved by the licensed SPMO;(D) transfer by means of an electronic funds transfer from a monetary account controlled by an account holder to his/her account, said account holder to be liable for any charges imposed by the transmitting or receiving entity with such charges to be deducted from the account; or(2) Funds so deposited will be made available for wagering use in accordance with financial institution funds availability schedules.(3) Credit for winnings from wagers placed with funds in an account and credit for account wagers on entries that are scratched shall be posted to the account by the authorized advance deposit wagering service provider.(c) Debits to an account shall be made as follows: (1) upon receipt by the licensed SPMO of an advance deposit wager, the licensed SPMO shall debit the account in the amount of the wager; or(2) for fees for service or other transaction-related charges by the licensed SPMO.(d) A licensed SPMO may close accounts for violation of its terms of agreement or other appropriate reasons approved by the commission's executive director.(e) A licensed SPMO may close accounts in which there has been no activity for at least six (6) months, returning funds remaining therein to the account holder at his/her last known principal residential address.(f) In the event an account holder is deceased, funds accrued in the account shall be released to the decedent's legal representative upon receipt of a copy of a valid death certificate, tax releases or waivers, probate court authorizations, or other documents required by applicable laws.(g) The licensed SPMO shall not accept wagers from an account holder in an amount in excess of the account balance. (h) Checks, money orders, and other negotiable instruments shall be posted to the credit of the account holder in accordance with financial institution funds availability schedules.(i) Monies deposited with the licensed SPMO for account wagering shall not bear any interest to the account holder.(j) Notwithstanding any other rules, a licensed SPMO may at any time declare account wagering closed for receiving wagers on any pari-mutuel pool, race, group of races, racetrack or closed for all wagering. Anytime account wagering is closed during normal wagering hours by the licensed SPMO a written report must be filed with the commission within forty-eight (48) hours.(k) A licensed SPMO has the right at any time and for what it deems good and sufficient reason to refuse to accept all or part of any wager.(l) Except where the licensed SPMO or its employees or agents act without good faith or fail to exercise ordinary care, the licensed SPMO shall not be responsible for any loss arising from the use by any other person or persons of an account holder's account. The account holder must immediately notify the licensed SPMO of a breach of the account's security.(m) Payment on winning pari-mutuel wagers and credits for account wagers on entries which are scratched shall be posted to the credit of the account holder as soon as practicable after the race is declared official.Indiana Horse Racing Commission; 71 IAC 9-2.2-10; emergency rule filed Aug 29, 2018, 11:12 a.m.: 20180905-IR-071180370ERAReadopted filed 7/6/2023, 1:50 p.m.: 20230802-IR-071230371RFANOTE: Agency cited as 71 IAC 9-2.1-10, which was renumbered by the Publisher as 71 IAC 9-2.2-10.