The bill amends the Code of West Virginia to enhance the regulatory framework surrounding the advertising practices of licensed limited video lottery retailers and permittees. It empowers the Lottery Commission to propose legislative rules that govern advertising and promotional activities, which must align with existing code provisions. A key requirement is that all advertising and promotional activities must receive prior approval from the Director before being published or released. Additionally, any previous legislative rules that restrict such activities will be rendered ineffective upon the bill's enactment.

The legislation also imposes specific responsibilities on limited video lottery retailers and operators regarding their advertising practices. Retailers and operators are required to adhere to the new advertising provisions and ensure compliance with the Lottery Commission's rules. The bill mandates that operators install and display signs and redemption information at approved locations, maintain a minimum general liability insurance coverage of $1 million per claim for all video lottery terminals, and promptly notify the commission of any damage to logic unit seals. Furthermore, operators must assume liability for any amounts owed to the commission related to lost or stolen money from video lottery terminals and maintain a separate bank account for depositing gross terminal income, thereby promoting financial accountability and transparency in their operations.

Statutes affected:
Introduced Version: 29-22B-402, 29-22B-702, 29-22B-706
Committee Substitute: 29-22B-402, 29-22B-702, 29-22B-706
Engrossed Committee Substitute: 29-22B-402, 29-22B-702, 29-22B-706