Kentucky Administrative Regulations › Title 810 - PUBLIC PROTECTION CABINET - KENTUCKY HORSE RACING COMMISSION › Chapter 3 - Licensing › Section 810 KAR 3:040 - Advance deposit account wagering

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				230.260,
				230.290,
				230.310,
				230.320
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				230.215(2) grants the
				commission the authority to regulate conditions under which horse racing and
				pari-mutuel wagering thereon shall be conducted in Kentucky.
				KRS
				230.260(2) authorizes the
				Kentucky Horse Racing Commission to issue licenses to any person or entity that
				offers advance deposit account wagering to Kentucky residents. This
				administrative regulation establishes the license application procedures and
				requirements to offer advance deposit account wagering to Kentucky
				residents.
Section 1. Definitions.
(1) "Account" means an account for advance
			 deposit account wagering with a specific identifiable record of deposits,
			 wagers, and withdrawals established by an account holder and managed by the
			 advance deposit account wagering licensee.
(2) "Account holder" means an individual who
			 successfully completed an application and for whom the advance deposit account
			 wagering licensee has opened an account.
(3) "Advance deposit account wagering" is
			 defined by
			 KRS
			 230.210(1).
(4) "Advance deposit account wagering
			 licensee" is defined by
			 KRS
			 230.210(2).
(5) "Applicant" means an individual, person,
			 or entity that has submitted an application for a license pursuant to this
			 administrative regulation.
(6)
			 "Confidential information" means:
(a) The
			 amount of money credited to, debited from, withdrawn from, or present in any
			 particular account holder's account;
(b) The amount of money wagered by a
			 particular account holder on any race or series of races;
(c) The account number and secure personal
			 identification code of a particular account holder;
(d) The identities of particular racing
			 associations on which the account holder is wagering or has wagered;
			 and
(e) Unless otherwise authorized
			 by the account holder, the name, address, and other information in the
			 possession of the advance deposit account wagering licensee that would identify
			 the account holder to anyone other than the commission or the advance deposit
			 account wagering licensee.
(7) "Individual" means a natural person, at
			 least eighteen (18) years of age, but does not include any corporation,
			 partnership, limited liability company, trust, or estate.
(8) "Kentucky resident" is defined by
			 KRS
			 230.210(12).
(9) "Person" means any corporation, whether
			 organized for profit or not, partnership, limited liability company, trust,
			 estate, association, joint venture, or any other group or combination acting as
			 a unit.
(10) "Principal" means any
			 of the following individuals associated with a partnership, trust association,
			 limited liability company, or corporation:
(a) The chairman and all members of the board
			 of directors of a corporation;
(b)
			 All partners of a partnership and all participating members of a limited
			 liability company;
(c) All trustees
			 and trust beneficiaries of an association;
(d) The president or chief executive officer
			 and all other officers, managers, and employees who have policy-making or
			 fiduciary responsibility within the organization;
(e) All stockholders or other individuals who
			 own, hold, or control, either directly or indirectly, five (5) percent or more
			 of stock or financial interest in the collective organization; and;
(f) Any other employee, agent, guardian,
			 personal representative, or lender or holder of indebtedness who has the power
			 to exercise a significant influence over the applicant's or licensee's
			 operation.
(11)
			 "Telephone account wagering" is defined by
			 KRS
			 230.210(19).