Mich. Admin. Code R. 432.766

Current through Vol. 24-19, November 1, 2024

Section R. 432.766 - Records retention

Rule 766.

(1) Each sports betting operator or sports betting supplier must maintain, in a place secure from theft, loss, or destruction, adequate records of its business and accounting operations. A sports betting operator or sports betting supplier must make the records available to the board, upon request, within a time provided for by the board. A sports betting operator or sports betting supplier must hold the records for not less than 5 years. The records must include, but not be limited to, all of the following:

(a) All correspondence with, or reports to, the board or any local, state, tribal, or federal governmental agency.

(b) All correspondence concerning the business of a sports betting operator or sports betting supplier.

(2) A sports betting operator or sports betting supplier must keep and maintain, in a manner and form required by the board, accurate, complete, and legible records of any books, records, or documents pertaining to, prepared in, or generated by, the sports betting operator or sports betting supplier, including but not limited to, all of the following:

(a) Forms.

(b) Reports.

(c) Accounting records.

(d) Ledgers.

(e) Subsidiary records.

(f) Computer generated data.

(g) Internal audit records.

(h) Correspondence.

(i) Personnel records.

(3) A sports betting operator or sports betting supplier must organize and index all required records in a manner that enables the board to locate, inspect, review, and analyze the records with reasonable ease and efficiency.

(4) For a sports betting operator that is an Indian tribe, records required to be maintained under this rule are limited to those records related to the sports betting operators internet sports betting operations.

Mich. Admin. Code R. 432.766

2020 MR 22, Eff. 12/2/2020