The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
1. The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that adequate reserves exist for payouts.
2. Any insurance requirements for a licensee.
3. Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including requirements for all of the following:
(a) Safeguarding assets and revenues, including evidence of indebtedness.
(b) Maintaining reliable records relating to accounts, transactions, profits and losses, operations and events.
(c) Risk management.
4. Requirements for internal and independent audits of licensees.
5. The manner in which periodic financial reports must be submitted to the department from each licensee, including the financial information to be included in the reports.
6. The type of information deemed confidential financial or proprietary information that is not subject to any reporting requirements under this subsection.
7. Policies, procedures and processes designed to mitigate the risk of fraud, cheating or money laundering.
8. Any post-employment restrictions for department employees necessary to maintain the integrity of event wagering in this state.
B. The licensee may maintain the bond at any bank lawfully operating in this state or another entity as approved by the department, and the licensee must be the beneficiary of any interest accrued on the bond.