Tennessee § 4-51-324 - Licensee reporting requirements — Compliance hearing.

§ 4-51-324. Licensee reporting requirements — Compliance hearing.

Each licensee shall report to the board, no later than January 15 of each year: The total amount of wagers received from bettors for the immediately preceding calendar year; The adjusted gross income of the licensee for the immediately preceding calendar year; and Any additional information required by rule of the board deemed in the public interest or necessary to maintain the integrity of sports wagering in this state. A licensee shall immediately report to the board any information relating to: The name of any newly elected officer or director of the board of the licensed entity; and The acquisition by any person of five percent (5%) or more of any class of corporate stock. With respect to information reported under subsection (b), a licensee shall include with the report a statement as to any conflict of interest that may exist as the result of such election or acquisition. Upon receiving a report under this section or § 4-51-315(b), the board may conduct a hearing in accordance with § 4-51-326 to determine whether the licensee remains in compliance with this part. 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.