Tennessee § 4-51-310 - Financial practices — Audits of licensees — Post-employment restrictions.

§ 4-51-310. Financial practices — Audits of licensees — Post-employment restrictions.

The board shall prescribe by rule: Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: Safeguarding assets and revenues, including evidence of indebtedness; Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and Global risk management; Requirements for internal and independent audits of licensees; The manner in which periodic financial reports must be submitted to the board from each licensee, including the financial information to be included in the reports; The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part; Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state. Acts 2019, ch. 507, § 1. Compiler's Notes. Acts 2019, ch. 507, § 7 provided that the act take effect July 1, 2019, the public welfare requiring it. The act was returned without the governor's signature and became effective under the provisions of Tenn. Const., art. III, § 18. Effective Dates. Acts 2019, ch. 507, July 1, 2019; provided that, for purposes of promulgating rules and carrying out any administrative duties necessary to effectuate the provisions and intent of this act, the act took effect on May 25, 2019. See Compiler’s Notes. Cross-References. Confidentiality of public records, § 10-7-504 .