24 NCAC 06A .0231         Closing of a Responsible Party's Operation; Dissolution

(a)  A Responsible Party shall notify the Director of any temporary or permanent closing plans at least 60 Days prior to closing its operations or as soon as the Responsible Party knows that closing is imminent, whichever period is shorter.

(b)  Within 30 Days of notice to the Director, the Responsible Party shall provide the Director with a closing plan regarding the disposition of outstanding Tickets and futures Wagers.

(c)  A Responsible Party shall notify the Director of any permanent cessation of operations at least 60 Days prior to operations ceasing, or the change of ownership, or as soon as the Responsible Party knows that closing is imminent, whichever period is shorter.

(d)  Within 30 Days of notice to the Director, an Operator shall provide the Director with a closing plan regarding the disposition of Player Accounts and funds therein, if applicable. The closing plan shall be consistent with Operator's Internal Controls and identify any amendments the Operator proposed in order to implement the closing plan.

(e)  A Responsible Party shall surrender its License within 10 Days of the dissolution effective date.

History Note:        Authority G.S. 18C-114(a)(14);

Previously adopted as Rule 1B-031;

Eff. January 8, 2024;

Readopted Eff. March 27, 2024.