S.D. Admin. R. 20:18:36.22

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:18:36.22 - Declining to withdraw from an account

An advance deposit wagering licensee must honor the account holder's request to withdraw funds within five business days after the request unless the advance deposit wagering licensee believes in good faith that the account holder engaged in fraudulent conduct or other conduct that would put the licensee in violation of SDCL chapter 42-7 B and these rules. In such cases, the licensee shall:

(1) Provide notice to the account holder of the nature of the investigation of the account; and

(2) Conduct an investigation in a reasonable and expedient fashion, providing the account holder written notice of the investigation status every tenth business day from the day the original notice was provided to the account holder.

S.D. Admin. R. 20:18:36.22

48 SDR 014, effective 8/22/2021

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

Law Implemented: SDCL 42-7B-77.