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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>76769</law_id><section_number>59.1-559</section_number><catch_line>Independent audit required; submission to Department</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>59.1-565</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="59.1">Trade and Commerce</unit><unit label="chapter" level="2" order_by="1" identifier="51">Fantasy Contests Act</unit></structure><text>
						<section><p>A registered <span class="dictionary">operator</span> shall (i) annually <span class="dictionary">contract</span> with a certified public accountant to conduct an independent audit, consistent with the standards accepted by the Board of Accountancy; (ii) annually <span class="dictionary">contract</span> with a testing laboratory recognized by the <span class="dictionary">Department</span> to verify compliance with the provisions of subsection D of &#xA7;&#xA0;<a class="law" title="Registration of fantasy contest operators required; application for registration; issuance of registration certificate; penalty" href="/59.1-557/">59.1-557</a>; and (iii) submit to the <span class="dictionary">Department</span> a copy of the (a) audit report and (b) report of the testing laboratory as required by clause (ii).</p></section></text><history>2016, cc. 318, 703.</history><metadata></metadata></law>
