For the purposes of ARM 23.16.3201 through 23.16.3205, the following definitions apply:
(1) "Administrative fee" means an amount that may be charged a member for payment of expenses directly related to the operation of a fantasy sports league. An administrative fee may not exceed 15% of a member's entrance fee.
(2) "Entrance fee" means the amount charged a member, excluding any administrative fee, for membership in a fantasy sports league.
(3) "Fantasy sports league" means a gambling activity as defined in 23-5-801 , MCA.
(4) "Member" means a person or group of persons who own a fictitious team that is a competitor in a fantasy sports league.
(5) "Prize" means anything of value awarded to a winner of a fantasy sports league.
(6) "Transaction fee" means an amount charged a member for trading or purchasing a player after the initial teams in the fantasy sports league are selected. The fee for each transaction may not exceed the entrance fee.
History: 23-5-115, MCA; IMP, 23-5-801, MCA; NEW, 1991 MAR p. 1942, Eff. 10/18/91.