New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 74 - OFF-TRACK WAGERING AND ACCOUNT WAGERING › Subchapter 3 - APPLICATION FOR INITIAL ACCOUNT WAGERING LICENSE; APPLICATION FOR RENEWAL OF ACCOUNT WAGERING LICENSE › Section 13:74-3.2 - Prerequisites to a grant of renewal of an account wagering license

Current through Register Vol. 56, No. 14, July 15, 2024
(a) These
				procedures shall apply where the account wagering licensee has been granted an
				initial license for account wagering, which initial license has not lapsed,
				where the grant of that initial license occurred pursuant to the provisions of
				the Act and
				13:74-3.1, and where the account
				wagering licensee or its successor in interest makes proper application for the
				renewal of the initial account wagering license or a previously renewed account
				wagering license itself subject of the initial license grant.
(b) A renewal of an account wagering license,
				as issued by the Commission, shall run for a one year period commencing January
				1 and ending on December 31 of the same year. Where, however, an initial one
				year account wagering license granted pursuant to the procedure set forth in
				13:74-3.1 shall by operation of
				the calendar expire on a date which would result in a lapse of such license if
				these dates were to be complied with, the Commission on a one-time basis and at
				no additional cost to the account wagering licensee may grant a renewal of the
				initial license period to the last day of December of the year in
				question.
(c) A renewal license for
				an existing account wagering license shall be made by the account wagering
				licensee on a form prescribed by the Commission, accompanied by a
				non-refundable filing fee of $ 5,000, and shall be filed in a complete manner
				no later than October 15 of the year prior to that of which the license renewal
				is sought.
(d) A renewal
				application shall not be considered complete unless it complies with the
				requirements set forth in
				13:74-3.1(b), (c), (d) and
				(e).
(e) Following the Executive Director's
				determination that the renewal application is complete, the Executive Director
				shall at the cost of the account wagering licensee cause a hearing to be held
				before the Commission. Any such hearing may be held at a properly convened
				public meeting of the Commission, and at a location in this State in the
				Commission's discretion.
(f)
				Following the Commission's consideration of the renewal application, and prior
				to the expiration date of the initial or previously renewed license under which
				the account wagering system is then operating, the Commission subject to the
				review and approval of the Attorney General shall issue an account wagering
				renewal license if appropriate. An account wagering renewal license shall be
				issued to the account wagering licensee where it demonstrates by clear and
				convincing evidence that:
1. Wagers placed
				through the account wagering system shall continue to be accurately processed,
				with sufficient safeguards to maintain the integrity of the horse racing
				industry in this State;
2. The
				grant of a renewal license will not be inimical to the interests of the public
				and the horse racing industry in this State;
3. The participation agreement meets the
				requirements of the Act to the satisfaction of the Commission and Attorney
				General; and
4. The account
				wagering licensee is in compliance with the Act, this chapter and any
				conditions imposed upon it by the Commission.