11 Va. Admin. Code § 5-70-150

Current through Register Vol. 41, No. 8, December 2, 2024

Section 11VAC5-70-150 - Liability pooling

A. A permit holder may offset loss and manage risk, directly or with a third party approved by the director, through the use of a liquidity pool in Virginia or, if the permit holder or its affiliate is licensed to operate a sports betting business in a permissible jurisdiction, in that permissible jurisdiction.

B. A permit holder's use of a liquidity pool does not eliminate the permit holder's reserve obligations under 11VAC5-70-140.

11 Va. Admin. Code § 5-70-150

Derived from Virginia Register Volume 37, Issue 04, eff. 10/12/2020.

Statutory Authority: §§ 58.1-4007, 58.1-4015.1, and 58.1-4030 through 58.1-4047 of the Code of Virginia.