{"data":{"id":"us-tn/tenn.-code-ann.-4-49-110","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 4-49-110","heading":"Financial practices - Audits of licensees - Post-employment restrictions","body":"The council shall prescribe by rule: (1) Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: (A) Safeguarding assets and revenues, including evidence of indebtedness; (B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management; (2) Requirements for internal and independent audits of licensees; (3) The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports; (4) The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part; (5) Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and (6) Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state. Renumbered from T.C.A. s 4-51-310 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Amended by 2021 Tenn. Acts, ch. 593, s 27, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.\nThe council shall prescribe by rule:\n(1) Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: (A) Safeguarding assets and revenues, including evidence of indebtedness; (B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management;\n(A) Safeguarding assets and revenues, including evidence of indebtedness;\n(B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and\n(C) Global risk management;\n(2) Requirements for internal and independent audits of licensees;\n(3) The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports;\n(4) The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part;\n(5) Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and\n(6) Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state.\nRenumbered from T.C.A. s 4-51-310 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022.","path":["TN Code","Title 4","Chapter 49"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"a3c1f9416e537e4e723d7d4f1c7ca5b09a0469f9b2c383f07d75998ce5a73db6","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-4-49-109","next":"us-tn/tenn.-code-ann.-4-49-111"},"notice":"GroundRules: Original legal text. Not legal advice."}