Michigan Administrative Code › Department - Treasury › Michigan Gaming Control Board › Horse Racing General Rules › Part 5 - ACCOUNT WAGERING › Section R. 431.5001 - Definitions

Current through Vol. 24-12, July 15, 2024
Rule 5001. As used in this part:
"Account" means an account for account wagering with a
					 specific identifiable record of deposits, wagers, and withdrawals established
					 by an account holder and managed by the third-party facilitator (TPF)
					 licensee.
"Account holder" means a person who successfully opens an
					 account.
"Account wagering" means an electronic form of pari-mutuel
					 wagering in which a person has an account with a third-party facilitator and
					 then uses the current balance to pay for live pari-mutuel wagering.
"Account wagering center" means an actual location,
					 equipment, and staff of a third-party facilitator licensee or agents, or both,
					 involved in the management, servicing, and operation of account
					 wagering.
"Account wagering system" means a system used for the
					 deposit and withdrawal of funds to make electronic wagers on pari-mutuel
					 races.
"Confidential Information" means:
The amount of money credited to, debited from, withdrawn
					 from, or present in any particular account.
The amount of money wagered by a particular account holder
					 on any race or series of races.
The account number and secure personal identification code
					 of a particular account holder.
The identities of particular entries on which the account
					 holder is wagering or has wagered.
Unless otherwise authorized by the account holder, the
					 name, address, and other information in the possession of the account wagering
					 center and race meeting licensee that would identify the account holder to
					 anyone other than the MGCB, the account wagering center or the race meeting
					 licensee.
"Credits" means all positive inflows of money to an
					 account.
"Debits" means all negative outflow of money from an
					 account.
"Deposit" means a payment of money by cash, check, money
					 order, credit card, debit card, or electronic funds transfer made by an account
					 holder to the account holder's account.
"Joint contract" means a contract to facilitate account
					 wagering with the agreement signed by a TPF applicant or licensee, all race
					 meeting licensees, and certified horsemen's organizations in this state.
"Principal residence address" means that place where the
					 person submitting an application for an account resides not less than 50% of
					 the time during the calendar year.
"Proper identification" means a form of identification
					 accepted in the normal course of business to establish that the person making a
					 transaction is an account holder.
"Secure personal identification code" means a unique
					 alpha-numeric character code chosen by an account holder as a means by which
					 the third-party facilitator may verify a wager or account transaction of an
					 account holder.
"Third party facilitator" or "TPF" means a person who
					 applies for and is licensed by the executive director to provide race meeting
					 licensees with goods or services for the electronic processing of internet
					 wagers using an account wagering system.
"Withdrawal" means a payment of money from an account by
					 the TPF licensee or race meeting licensee to the account holder when properly
					 requested by the account holder.