New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 74C - EXCHANGE WAGERING › Subchapter 4 - STANDARDS FOR EXCHANGE WAGERING SYSTEM › Section 13:74C-4.7 - Exchange wagering system records maintenance; exchange wagering account disputes

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				exchange wagering licensee shall maintain complete records of every deposit,
				withdrawal, wager, and winning payoff for each exchange wager, which records
				shall be made available to the Commission upon request. Such records shall be
				stored and maintained at a location required pursuant to
				N.J.A.C.
				13:74C-3.3.
(b) For exchange wagers and other
				transactions made by direct telephone call, the exchange wagering licensee
				shall make a voice recording of the entire transaction and shall not accept any
				such exchange wager or transaction if the voice recording system is inoperable.
				The voice recording of the exchange wagering account holders' finalization of
				the wager shall be deemed to be the actual wager or record of transaction,
				regardless of what wager was entered by and into the exchange wagering system.
				The voice recording records shall be made available to the Commission upon
				request.
(c) For exchange wagers or
				transactions made by computer or other electronic means approved by the
				Commission, the exchange wagering licensee shall maintain a printable record of
				the entire transaction and shall not accept any such exchange wager or
				transaction if the printable record system is inoperable. The record of the
				finalization of the wager shall be deemed to be the actual wager or record of
				transaction, regardless of what wager was entered by and into the exchange
				wagering system. The records shall be made available to the Commission upon
				request.
(d) For exchange wagers or
				transactions made by an exchange wagering account holder in-person, the
				exchange wagering licensee shall maintain a printable record of the entire
				transaction and shall not accept any such exchange wager or transaction if the
				printable record system is inoperable. The record of the finalization of the
				wager shall be deemed to be the actual wager or record of transaction,
				regardless of what exchange wager was entered by and into the exchange wagering
				system. The records shall be made available to the Commission upon
				request.
(e) The exchange wagering
				licensee shall provide each exchange wagering account holder, upon reasonable
				request, and consistent with its internal control procedures, with a statement
				of account showing each exchange wagering deposit, each exchange wagering
				account withdrawal, each credit to the exchange wagering account, and each
				debit to the exchange wagering account made during the time period reported by
				the account statement. The exchange wagering account holder may dispute any
				transaction in accordance with the exchange wagering licensee's dispute
				resolution procedure, which procedure shall be set forth in the exchange
				wagering licensee's internal control procedures. In any dispute initiated in
				accordance with such procedure, or as otherwise permitted by the exchange
				wagering licensee in its discretion, the exchange wagering account holder shall
				have the right to review the voice recording or printable record of his or her
				exchange wagering account transaction or exchange wager as described at (b),
				(c), and (d) above. The decision of the exchange wagering licensee as to any
				dispute shall not be the subject of any appeal to the Commission, and shall
				constitute a final decision on the part of the exchange wagering licensee. The
				records referred to in this subsection shall be made available to the
				Commission upon request.
(f) The
				exchange wagering licensee shall maintain all records required by this section
				for a period of time consistent with the ability of an exchange wagering
				account holder to dispute a transaction consistent with its internal control
				procedures and, except as otherwise noted within this subsection, for a period
				of not less than six months from the date of the related exchange wagering
				transaction. All telephone voice recordings of exchange wagering transactions
				shall be maintained for a period of not less than 30 days from the date of the
				related exchange wagering transaction. All exchange wagering account
				applications or amendments thereto shall be retained by the exchange wagering
				licensee for a minimum period of one year following the rejection of the
				application by the exchange wagering licensee, or where an exchange wagering
				account has been established, for a minimum period of one year following the
				closure of the related exchange wagering account.