There is a newer version of this Section
2021
2020
2019 (you are here)
2018
2017
Other previous versions
View our newest version here

2019 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 18 - Consumer Protection
Part 16 - Fantasy Sports Act
§ 47-18-1604. Duties of secretary of state.

Universal Citation: TN Code § 47-18-1604 (2019)
Previous Next

  • (a) The secretary of state shall carry out the duties assigned pursuant to this part, including the following:

    • (1) Oversee the licensure of fantasy sports operators that seek to operate in this state;

    • (2) Require that all licensed fantasy sports operators contract annually with a third party to perform an independent audit, consistent with the attestation standards established by the American Institute of Certified Public Accountants, to ensure compliance with this part. Upon completion of the audit, the audit report shall be submitted to the secretary of state for examination and inspection. These records shall be confidential and shall not be open to public inspection pursuant to title 10, chapter 7;

    • (3) Provide information to the department of revenue to assist in its administration and collection of taxes applicable to fantasy sports operators;

    • (4) Require fantasy sports operators to report annually all winnings earned by fantasy sports players on online platforms supported by the fantasy sports operator to the secretary of state;

    • (5) Maintain a registry of fantasy sports operators licensed to operate in this state;

    • (6) Conduct investigations regarding alleged violations of §§ 47-18-1603, 47-18-1604, and 47-18-1608 and make evaluations as necessary to determine if licensees are complying with this part;

    • (7) Issue subpoenas to compel the attendance of witnesses and the production of pertinent books, accounts, records, and documents; and

    • (8) Deny, suspend, or revoke a license issued under this part to any applicant or licensee who fails to comply with this part or fails to follow the rules promulgated by the secretary of state.

  • (b)

    • (1) In addition to the duties set out in subsection (a), the secretary of state shall establish the following fees:

      • (A) A nonrefundable application fee;

      • (B) A nonrefundable fee for licensure;

      • (C) An annual licensure renewal fee;

      • (D) Late fees;

      • (E) A correction of information fee; and

      • (F) A change of information fee.

    • (2) In addition to the fees authorized in subdivision (b)(1), the secretary of state is authorized to charge an online transaction fee to cover costs associated with processing payments for applications for licensure or renewals of licensure submitted online.

    • (3) Except as provided in this subsection (b), no other fees shall be charged to administer this part.

Previous Next
Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.