2024 Georgia COAM Law Impacts Master and Location Licensees

The 2024 COAM method in Georgia has all the effects of Georgia owners and licensed owners. The following are the first conclusions and resumes of the lucky coin on the brand new law passed in 2024, but you can still learn by referring to here and PDF.

Introduction: HB 353 affects many issues on the Mint by Georgia Lotus (GLC) and its coordination. This bill has an important clause to improve the work of Georgia's branch.

The main points of the bill are as follows:

• Examination of GLC from the law on the administrative procedure related to the industrial COAM for dro p-off is that the GLC needs to issue a notification and make public comments.
• Space} Class A raises the prize limit from $ 5 to $ 50 so that gift vouchers can be applied as one form of ransomware.
• Permission to issue a lon g-term licens e-local license and general license owners can apply for a license in one, two or two years.
• Untrained gift vouchers can now be applied as legal replacement methods.
• Since July 1, 2026, only repeaters, lottery products, gift certificates that have not yet become repeaters, and gift certificates that have not been restarted are legal cashing methods.
• Release some fraternity groups and experienced organizations from specific rules.
• Space} License owners can report the total sales of each quarter.
• Space｝ Consider narrow marketing from master licenser to location licensers
• Increased GLC share in COAM's revenue to 13% -division of return share to 43, 5%/43, 5%
• GLC submits a report 1099 to each Licensee

Section 1, 2 pages, and 33-39 line This section takes into account the work of the Coam COOM distribution corps regulated by the law on administrative procedures. As a result, the GLC will be able to receive more explanations from the people and members of the members and members of the influential rules and processes. Apart from this, some hearings are conducted in accordance with the Georgian arbitration law.

From the 44th to 52nd lines of section 2 and the third page, the supply of the deficit is clearly defined, and this deficit is necessary to save it in the lottery for formation. It takes into account the adjustment of funds that exceed the reserves. This is done by the host to cover the shortage of butjet for kindergarten education.

Section 3, page 4, lines 83-85 The price of a Class A COAM automatic rifle has not changed since the late 1970s. This section raises the price limit for a Class A machine gun to $50, bringing Georgia in line with the rest of the country.

Section 3, page 4, lines 86-91 This section defines a "gift card." The card may not be exchanged for cash, trifles, or currency. Such cards may only be loaded or restarted at the location where COAM is played.

Section 4, page 4, rules 99-100 This section distinguishes between a $1. 000 penalty for a Class B license application and an additional penalty of $100 per delay for a Class A application. The revenue generated by the A class of COOM is much smaller.

Section 4, page 5, lines 105-113 allows for the issuance of a permanent license. Site licensees and master licensees may choose a one-, two-, or three-year license at the time of extension. The license fee will coincide with the validity period of the license. Licensors must report any material changes in the information provided in the application during the validity period of the license.

Section 5, page 5, lines 117-120 This section allows the use of unregistered gift vouchers as a legal form of redemption for COME Classes A and B from the date of enactment of this Act until June 30, 2026. Educational institutions will no longer be required to go through the GLC pilot program to issue gift vouchers as giveaways if they comply with all other aspects of this Act.

Section 5, page 5, rules 121-124 defines the legal forms of redemption for Class A COAMs after July 1, 2026. Legal forms of redemption include redeemed, unredeemed, and resumed gift vouchers, in addition to other legal forms of redemption.

Section 5, pages 5 and 6, lines 125 to 134, defines the lawful redemption forms for COAM class B after July 1, 2026. After this date, the only lawful redemption forms for COAM class B will be redemptions, lottery products, unredeemed gift cards, and reactivated gift cards. This section also contains recommendations regarding penalties for violations of the mandatory redemption forms.

Section 5, page 6, lines 135-141 This section clarifies the criteria for issuing gift cards and the methods of institutions issuing gift cards. Gift cards have every possibility to be loaded or restarted only by the value acquired as a result of successful play at COAM. Gift vouchers can be used, for example, in-room, out-of-room. Gift cards may be loaded or restarted only by the licensee of the establishment, its employees, or by self-service devices (kiosks) for purchasing gift cards.

Section 5, page 6, lines 142-146 Gift vouchers may be exchanged for any kind of goods or offers, including the right of the successful player to purchase legitimately. The presentation of a gift card is considered a legitimate ransom act in the store. That is, the introduction of gift cards is not practically prohibited. Successful players have every opportunity to purchase alcohol, tobacco, and pellet guns with their gift cards.

Section 5, page 6, lines 147-151 Allows the use of self-care devices for gift cards and kiosks. These devices and their prices are subject to any possibility of acquisition by the owner of the establishment, the holder of the general license, or both. Any agreement on self-service devices for gift certificates does not comply with current law.

Section 6, page 7, rules 153-163 GLK must turn on 3-year 1 master license.

Section 6, page 7, lines 164-168 In case of recall or non-renewal of the general license, any agreement providing for the resale of the general license must foresee a public auction.

Section 7, pages 7 and 8, lines 171-181 This section imposes on the GLC to submit responses to official requests for interpretation of standards or positions. This will increase the accountability and permeability of the GLC. This still makes it the only stereotype that all licensees will answer.

Section 8, page 8, line 203 This line creates a new stereotype when location licensees are required to answer the "rule 50/50". This rule basically does not take into account the total gross sales of the venue, but rather the monthly gross sales. Now, in determining whether this "Rule 50/50" has been complied with, the GLC will take into account the characteristics of the quarterly gross sales.

Section 8, page 9, lines 207-209 This section frees certain fraternal and experienced organizations from the effects of the "Rule 50/50".

Section 8, page 10, lines 232-234 This section establishes the date by which location licensees must report quarterly gross sales to GLC using the same process as they do now.

Section 9, page 12, lines 282-284 This section requires new signage using GLC wording to be installed near all Class A or B COAMs.

Section 10, page 13, lines 311-316 Allows general licensees to provide certain non-furniture and marketing materials. These materials will not be considered unfair competitive practices or unfair or deceptive practices so long as they comply with the guidelines set forth in the next section.

Section 10, page 13, lines 317-324 Guidelines for non-branding and marketing materials:

• Branding should be limited to posters and signs, digital video boards, rugs, seating, removable partitions, and wall coverings.
• Must be exclusively for the promotion, advertising and redemption of approved gift vouchers for Class B COAM play.
• Must be on the property of the licensee.
• Must be removed by the time the Master Licensee's Class B COAM is removed from the site.

Section 11, page 14, rules 333-337 Establishes a new revenue allocation between the site licensee, the master licensee and the GLC. Going forward, the GLC will receive 13% of the net revenues, the location licensee will receive 43. 5% of the net revenues and the principal licensee will receive 43. 5% of the net revenues.

Section 11, page 15, lines 365-367 The GLC will issue each licensee a 1099 for tax purposes at the end of the fiscal year.

In conclusion, we at Lucky Coin believe that HB353 is a good bill. We hope that this will go a long way in cleaning up and expanding the COAM industry in Georgia. As always, we will continue to work closely with each location to help them continue to develop and remain compliant with all applicable laws and regulations.

We hope that we can help clear up any doubts or misunderstandings and provide the facts about how the Georgia COAM Act of 2024 will impact licensees and site owners. If you are interested in partnering with Lucky Coin, please contact us at info@luckycoininc. com, call us at 1-855-34-LUCKY, or visit our website.

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