1 Colo. Code Regs. § 207-3-3
BASIS AND PURPOSE FOR RULE 3
The purpose of Rule 3 is to specify the rights, responsibilities, and duties of fantasy contest providers in regard to the lawful methods of operation, discovery of violations, changes in ownership and control, retention of records and access to the Division, advertising, and ceasing operations. The statutory basis for Rule 3 is found in sections 44-30-203, C.R.S., 44-30-204, C.R.S., 44-30-1604, C.R.S., 44-30-1605, C.R.S., 44-30-1607, C.R.S., 44-30-1608, C.R.S., 44-30-1610, C.R.S., and Part 16 of Article 30 of Title 44.
Responsibility for the employment and maintenance of lawful methods of operation rests with the fantasy contest provider, and willful or persistent use or toleration of methods of operation considered unlawful by the Division is prohibited. Each fantasy contest provider shall fully and timely perform each and every term, condition and duty required under Part 16, Article 30, of Title 44, C.R.S., and the Rules and Regulations promulgated thereunder governing fantasy contests.
Fantasy contest providers must notify the Division within seventy-two (72) hours of the time the provider discovered or should have discovered any violation or suspected violation of Part 16, Article 30, of Title 44, C.R.S., the Rules and Regulations promulgated thereunder, security breaches, unintended disclosure of patron's personal information, suspicious activity, or any other criminal violation.
All fantasy contest providers shall notify the Division, in writing, with any change to information required in an application or renewal application within forty-five (45) days of the change. Such changes shall include, but not be limited to, changes in officers or directors, effective ownership of greater than 10%, and trade names.
Fantasy contest providers shall retain all books, records, and data relating to the operation and management of fantasy contests, as well as information sufficient to trace the deposits and withdrawals to a patron's account for at least three (3) years from the date of creation. A fantasy contest provider may petition the Director for approval to dispose of records prior to the three (3) year retention requirement.
A fantasy contest provider must immediately make available for inspection by the Division, or its agents or investigators, local sheriffs, or their agents or investigators, and police departments upon demand, all records produced, used or kept in connection with fantasy contests, and all portions of the premises where fantasy contest system is housed. Upon demand, employees and agents of the Division, must be given immediate access to any portion of their premises for the purpose of inspecting or examining records or documents, fantasy contest systems, or the conduct of fantasy contest activity.
No fantasy contest provider may neglect or refuse to produce records or evidence or to give information upon demand by the Division. No fantasy contest provider shall interfere or attempt to interfere with lawful efforts by the Division to obtain or produce such information.
A fantasy contest provider shall not allow, conduct, or participate in any false or misleading advertising concerning its operations.
Providers shall implement commercially reasonable methods to ensure players that self-exclude shall not, while on the exclusion list, be able to redeem points, bonuses, comps or freeplay.
1 CCR 207-3-3