An operator shall hold a fantasy competition player’s funds: In a segregated account that separates player funds from the operator’s operational funds; or In a special-purpose, segregated account that is maintained and controlled by a properly constituted corporate entity that: Is not the fantasy competition operator; Has a governing board that includes one or more corporate directors who are independent of the operator and of any corporation related to or controlled by the operator; Requires a unanimous vote of all corporate directors to file for bankruptcy; Has articles of incorporation that prohibit commingling of fantasy competition player funds with those of the operator, except as necessary to reconcile the accounts of fantasy competition players with sums owed to the operator by those fantasy competition players; Is restricted from incurring debt other than to fantasy competition players pursuant to the operator’s rules governing the accounts of its fantasy competition players; Is restricted from taking on obligations of the operator other than obligations to its fantasy competition players pursuant to the operator’s rules governing the accounts of its fantasy competition players; and Other than a special purpose corporate entity established by another operator that meets the requirements of this subtitle, may not dissolve, merge, or consolidate with another company while there are unsatisfied obligations to fantasy competition players. An operator shall comply with all applicable State and federal requirements for data security.