Section R. 431.5035 - Record keeping and reportingRule 5035.
(1) A TPF must maintain all of the following information on each account for a minimum of 3 years: A record of all deposits, credits, and withdrawals.
A record of all wagers made.
(2) Upon request of the account holder, a TPF must provide any records it maintains on the account holder's account under subrule (1) of this rule. Records may be provided in paper or electronic format.(3) A TPF must make an account holder's current account balance available to the account holder at all times.(4) A TPF must allow the executive director and its designees to review and audit all records related in any way to its licensure, financial solvency, accounts, and the conduct of wagering by Michigan residents. Information relevant to the review and audit must be made available to the executive director or his or her designees upon request and in a format required by the executive director.(5) A TPF must provide an annual audited financial statement to the executive director.(6) A TPF must report to the executive director quarterly all payments made to the pari-mutuel horse racing disbursement account, the pari-mutuel activity on which the funds were paid, the number of accounts held by Michigan residents at the end of the reporting period, and any other information requested by the executive director.Mich. Admin. Code R. 431.5035
2021 MR 6, Eff. 3/26/2021