SECTION 325:65-3-1. General account wagering requirements

  The organization licensee may offer a system of account wagering to its patrons whereby wagers are debited and payoffs credited to a sum of money, deposited in an account by the patron, that is held by the organization licensee. The organization licensee shall notify the patron, at the time of opening the account, of any rules the organization licensee has made concerning deposits, withdrawals, average daily balance, user fees, interest payments and any other aspect of the operation of the account. The organization licensee shall notify the patron whenever the rules governing the account are changed, such notification occurring before the new rules are applied to the account and including the opportunity for the patron to close or cash-in the account. The patron shall be deemed to have accepted the rules of account operation upon opening or not closing the account. The organization licensee shall request authorization from the Commission before a system of account wagering is offered.

[Source: Added at 9 Ok Reg 3201, eff 6-30-92 (emergency); Added at 10 Ok Reg 3569, eff 7-12-93]