Tennessee § 4-51-322 - House rules — Acceptance of wagers — Payouts.

§ 4-51-322. House rules — Acceptance of wagers — Payouts.

Each licensee shall adopt and adhere to a written, comprehensive policy outlining the house rules governing the acceptance of wagers and payouts. The policy and rules must be approved by the board prior to the acceptance of a wager by a licensee. The policy and rules must be readily available to a bettor on the licensee's website. The board shall promulgate rules regarding: The manner in which a licensee accepts wagers from and issues payouts to bettors, including payouts in excess of ten thousand dollars ($10,000); and Reporting requirements for suspicious wagers. 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.