9 chapters · 193 sections in this title.
Mich. Comp. Laws § 432.503 Fantasy contest operator license; exception; application; fee.
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Sec. 3. (1) Except as otherwise provided in this section, a person shall not offer fantasy contests in this state unless the person is a licensed fantasy contest operator. (2) An individual may offer, solely from his or her private residence, 1 or more fantasy contests, if none o…
Mich. Comp. Laws § 432.504 Fantasy contest procedures and internal controls; board approval; confidentiality.
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Sec. 4. (1) As a condition of licensure, a fantasy contest operator must submit to, and receive approval from, the board commercially reasonable procedures and internal controls intended to accomplish all of the following: (a) Prevent the fantasy contest operator, its owners, dir…
Mich. Comp. Laws § 432.505 Independent audit.
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Sec. 5. By July 1 of each year, a licensed fantasy contest operator shall contract with a certified public accountant to perform an independent audit in accordance with generally accepted accounting principles of the financial condition of the licensed fantasy contest operator's …
Mich. Comp. Laws § 432.506 Minor participation; prohibit.
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Sec. 6. A fantasy contest operator shall prohibit an individual who is less than 18 years of age from participating in a fantasy contest.