Requirements for Escrow Account — Insurance — Cash-on-Hand
Checkout our iOS App for a better way to browser and research.
The board shall prescribe by rule:
The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that there exists adequate reserves to pay off bettors; and
Any insurance requirements for a licensee.
The licensee may maintain the bond at any bank lawfully operating in this state, and the licensee must be the beneficiary of any interest accrued thereon.