- (a) Prior to accepting an ADW wager from an account holder and while in operation thereafter, an applicant shall demonstrate evidence of financial responsibility by providing a financial guarantee in favor of this state, in an amount of at least $50,000, that allows recovery by the commission for the payment of all revenues required by this chapter.
(b) The financial security required in (a) above may be either:
- (1) A surety bond issued by an insurer authorized to issue surety bonds in this state;
- (2) An irrevocable letter of credit; or
- (3) Any other form of financial guarantee approved in advance by the commission, which allows for recovery to the state of revenues owed under this chapter.
Source. #14448, eff 12-3-25, EXPIRES: 12-3-35