Revision: Feb. 14, 2025, 8:32 a.m.
Sen. Lang, Dist 2
February 12, 2025
2025-0374s
02/11
Floor Amendment to SB 60-FN
Amend RSA 284:22-c, III as inserted by section 1 of the bill by replacing it with the following:
III. Before accepting an advance deposit wager from a New Hampshire resident, a licensed advance deposit wagering provider shall demonstrate evidence of financial responsibility in a format prescribed by the commission through a surety bond executed and issued by an insurer authorized to issue surety bonds in this state, an irrevocable letter of credit, or other form of financial guarantee in an amount to be determined by the commission. The commission may also accept, as evidence of financial responsibility, a surety bond, an irrevocable letter of credit, or other form of financial guarantee in accordance with this subdivision filed with one or more states where the applicant is licensed as an advance deposit wagering provider. The commission may ask for additional evidence of financial responsibility at any time the commission deems necessary. Any surety bond, an irrevocable letter of credit, or other form of financial guarantee issued under this subdivision shall be in favor of this state and shall specifically authorize recovery by the commission for the payment of all revenues required by this chapter.
Amend RSA 284:22-c, IV(f) as inserted by section 1 of the bill by replacing it with the following:
(f) Annually contracting with an independent third-party to conduct a financial audit and submit the results of the audit to the commission. If the licensed advanced deposit wagering provider is a wholly-owned subsidiary of a publicly traded company, submission of audited financial statements of the publicly-traded parent company contained in a public filing with the United States Securities and Exchange Commission shall satisfy this requirement;
Amend RSA 284:22-c, V as inserted by section 1 of the bill by replacing it with the following:
V. The plan of operation may only be amended with the approval of the commission. The commission may withdraw approval of a plan of operation for cause.