Section 4-49-214 - Transfer of duties and funds - Validity of pre-existing contracts(a) The secretary of state and its office shall assist and facilitate the transfer of its duties and powers to the sports wagering advisory council beginning on July 1, 2023.(b) Upon the promulgation of emergency or permanent rules by the sports wagering advisory council, the secretary of state shall transfer all remaining funds collected for the administration of the fantasy sports act, compiled in [former] title 47, chapter 18, part 16 [transferred], to the sports wagering advisory council for the administration of the fantasy sports act, compiled in this part, on and after July 1, 2023.(c) Contracts executed by the secretary of state under [former] title 47, chapter 18, part 16 [transferred], prior to July 1, 2023, including, but not limited to, for purposes of regulating fantasy sports and providing related services, remain valid on and after July 1, 2023, and are assigned to the sports wagering advisory council upon the promulgation of emergency or permanent rules by such council. Such contracts remain in full force and effect until such time as the contracts expire by their original terms, at which time the contracts may be renewed with the sports wagering advisory council at the discretion of the parties.Added by 2023 Tenn. Acts, ch. 143, s 5, eff. 7/1/2023.