New Jersey § 5:5-180
Full text of New Jersey New Jersey Statutes § 5:5-180, with citation guidance and answers to common questions.
§ 5:5-180.
Notwithstanding any other law, rule or regulation to the contrary, the commission
shall require each exchange wagering licensee to: a. pay such portions of the exchange wagering licensee's exchange revenues as may
be required pursuant to subsections b. and c. of section 4 of this act, P.L.2011, c. 15 ( C.5:5-171 ); b. pay to overnight purses in this State 50% of exchange revenues retained by the
exchange wagering licensee after the payments required pursuant to subsection a. of
this section are made, and after deducting all reasonable and necessary expenses incurred
by the licensee in administering, marketing and operating the exchange wagering system;
and c. reach a business agreement with all permit holders within this State, within one
year from the date when the exchange wagering system becomes operational, for the
distribution of the net exchange wagering revenues remaining after the payments are
made pursuant to subsections a. and b. of this section and after the payment of operating
expenses, pursuant to approval by the commission; provided that, if an agreement
is not reached within that time frame, the commission shall distribute the exchange
wagering revenues among the exchange wagering licensees and the permit holders in
this State as it deems appropriate.
Frequently Asked Questions About New Jersey § 5:5-180
What does New Jersey Statutes § 5:5-180 cover?
Section 5:5-180 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 5:5-180?
A common citation format is "New Jersey Statutes § 5:5-180" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 5:5-180 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.