N.Y. Comp. Codes R. & Regs. tit. 9 § 4500.11

Current through Register Vol. 46, No. 45, November 2, 2024

Section 4500.11 - Withdrawals and other debits to accounts

(a) For all accounts except bearer accounts, withdrawals may be made by completing a request for withdrawal from the account wagering account, consistent with the account wagering licensee's plan of operation, by only the means set forth in Racing, Pari-Mutuel Wagering and Breeding Law section 1012(5).

(b) Withdrawals can be for all or any portion of the account holder's balance.

(c) The account wagering licensee shall process all requests for withdrawals made via mail within five business days of receiving the request. All other requests for withdrawals shall be processed immediately. If the request is incomplete or required information is missing, the account wagering licensee must notify the account holder of the required information as soon as possible.

(d) If the account does not contain sufficient funds to cover the requested withdrawal, the account wagering licensee shall release the remaining funds and notify the account holder.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4500.11

Amended New York State Register July 26, 2017/Volume XXXIX, Issue 30, eff. 7/26/2017