Gaming

(a) Fire Safety Standards. Any establishment to be constructed for dockside gaming that will be permanently moored or on a land based structure, will be required to meet (1) the fire safety standards of the Mississippi Fire Prevention code, Section 45-11-101, (2) additional requi…

(a) Whenever any person intends to apply for a gaming license pursuant to the Act, he shall file a notice of intent to apply for a gaming license with the Commission. (b) The notice of intent must completely and accurately describe the proposed gaming establishment, including its…

A licensee shall not change its establishment or its vessel, the location of its establishment or vessel, home port of its vessel, or the routes, frequency, or duration of any excursions without the prior approval of the Commission. Notwithstanding the foregoing, the Executive Di…

(a) Prohibition. No state gaming license, finding of suitability, or approval, the granting of which requires an application to be made to the Commission, shall be held by nor granted to any person holding office in, or employed by, any agency of the State of Mississippi or any o…

The Commission will not ordinarily grant a state gaming license or finding of suitability to an individual under twenty-one years of age. This policy would not affect the licensing or finding of suitability of a trust where the settlor or beneficiary is under the age of twenty-on…

(a) Whenever the Commission receives a completed application for a gaming license proposing to operate a gaming establishment in a particular county or municipality, the Executive Director shall, within ten (10) days after receipt of the application, notify the board of superviso…

The Executive Director shall investigate all applications for licenses or other Commission approvals and report all material facts to the Commission. The Executive Director may investigate, without limitation, the background of the applicant, the suitability of the proposed premi…

An applicant shall waive any statutory or common law privilege afforded by the laws of the State of Mississippi or of any other jurisdiction in which the applicant or any information pertaining to the application is located. Refusal to waive such a privilege shall constitute grou…

The Executive Director or Commission may summon any person named in an application to appear and testify before them or their agents at such time and place as they may designate. All such testimony shall be under oath and may embrace any matter which the Commission, the Executive…

The Executive Director shall give written notice to all applicants of his recommendation regarding their applications and the time and place that their application for a gaming license will be considered by the Commission. If the Executive Director recommends denial of an applica…

When a general partnership or joint venture applies for any license, registration, or finding of suitability required or permitted to be granted by the Commission, each individual partner and joint venturer must file a complete application with the Executive Director and be separ…

The general partnership or joint venture which applies for a license, registration or finding of suitability is required to file only one $5,000.00 application fee, but each individual partner and joint venturer is required to pay investigative fees and each partner or joint vent…

As used in this regulation, the following terms have the following meanings: (a) "Control," "controlling," and "controlled by" mean a relationship between two entities whereby one possesses, indirectly or directly, the power to direct or cause the direction of the management and …

(a) Except as provided in subsection (b), each individual must be found suitable to hold a gaming license before he may: 1. Own an equity security issued by a corporate licensee, or 2. Hold any security issued by a corporate licensee which gives the holder voting rights in the co…

The reports required pursuant to Miss. Code Ann. § 75-76-213 shall consist of applications signed by the President and the Secretary of the corporate licensee on a form provided by the Executive Director. The information required on the form shall include, but not be limited to, …

(a) The Commission may request persons, affiliated entities and greater than 5% equity owners to submit an application for finding of suitability pursuant to Miss. Code Ann. Section 75-76-211(1972). (b) Any person, entity and greater than 5% equity owner required or requested to …

The following transactions involving corporate licensees are ineffective unless approved in advance by the Commission: (a) Any act or transaction by virtue of which any other corporation or other form of business organization becomes a controlled affiliate of a corporate licensee…

The statement required by Mississippi Code Annotated 75-76-207 shall be substantially as follows: (a) The sale, assignment, transfer, pledge or other disposition of this security is ineffective unless approved in advance by the Mississippi Gaming Commission. If at any time such c…

As used in this regulation: (a) "Contribution" means cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner. (b)"D…

After granting delayed licensing to any limited partner, the Executive Director and Commission may exercise, without limitation, any of the following powers: (a) The Executive Director may at any time recommend to the Commission that the Commission activate the licensing process …

Delayed licensing approval shall be personal to the limited partner granted delayed licensing. A limited partner's interest that is held under delayed licensing may not be transferred, assigned, encumbered or hypothecated in any manner without the prior approval of the Commission…

Pursuant to Miss. Code Ann. § 75-76-223, the following provisions must be included in the Certificate of Limited Partnership of every limited partnership that applies for or holds a state gaming license: (a) "Notwithstanding anything to the contrary, expressed or implied in this …

Miss. Code Ann. § 75-76-219 and this regulation, the Commission may waive licensing of certain limited partners and, in lieu thereof, grant approval of delayed licensing for a limited partner. (Adopted: 09/25/1991.) Notes 13 Miss. Code. R. 2-6.3 Miss. Code Ann. § 75-76-219

(a) A limited partnership that holds or has applied for a gaming license may file an application for approval of delayed licensing of its limited partners. (b) Only limited partners whose aggregate effective ownership percentage in the limited partnership is less than ten percent…

Once a limited partnership has been found eligible for delayed licensing pursuant to Section 4, each limited partner seeking delayed licensing shall file an application for delayed licensing pursuant to Section 6 of this regulation. A limited partner may file an application for d…

Any application for delayed licensing, whether by the limited partnership pursuant to Section 4, or by an individual limited partner pursuant to Section 5 of this regulation, shall be made to the Executive Director on forms furnished by the Executive Director. The Executive Direc…

In addition to the information required by Miss. Code Ann. § 75-76-73 and Section II A of these regulations, each limited partner applying for approval of delayed licensing shall provide the following information: (a) A listing of any other business interests between the applican…

The Executive Director shall consider all relevant facts in recommending and the Commission shall consider all relevant facts in determining whether to grant an approval of delayed licensing to a limited partnership, and thereafter to a limited partner. Without limiting the gener…

The partnership agreement of a limited partnership that seeks delayed licensing must obtain language to the effect that the licensing of any limited partner granted delayed licensing may be activated at any time pursuant to this regulation. The granting of delayed licensing to a …

If the Executive Director files a complaint for disciplinary action against any holding company, affiliated licensee, or officer, director or shareholder of any holding company or affiliated licensee, or calls any such person forward for a finding of suitability, the Commission m…

The Commission may determine that a holding company has failed to comply with Miss. Code Ann. § 75-76-237 and is therefore subject to disciplinary action, if any holding company or intermediary company: (a) Pays the person found unsuitable pursuant to Miss. Code Ann. § 75-76-237 …

No holding company shall issue or transfer any security of which it is the issuer without the prior approval of the Commission. Every approval required by this regulation shall be sought by the filing of an application signed by the President or a Vice-President, and the Secretar…

Each general partner of a limited partnership holding company and each officer and director of a corporate holding company must be licensed before the limited partnership or corporation may become a holding company. (Adopted: 09/25/1991.) Notes 13 Miss. Code. R. 2-7.4 Miss. Code …

(a) Except as permitted by subsection (b), no restrictions on the transfer of an equity security issued by a holding company, whether imposed by the issuer or by the holder or by any other persons, shall be effective for any purpose whatsoever unless such restrictions are approve…

Any person who receives payments from a holding company computed on the basis of the earnings or profits of a holding company, or on the basis of the receipts from gaming of an affiliated licensee of such holding company, may be required to be found suitable. (Adopted: 09/25/1991…

Part 2 Chapter 7 shall not apply to publicly traded corporations who have publicly traded equity securities. Part 2 Chapter 7 shall apply to publicly traded corporations whose registration is based solely on publicly traded debt securities. (Adopted: 09/25/1991.) Notes 13 Miss. C…

(a) An organization may pay eligible workers only for services actually rendered in assisting in the holding, operating or conducting of a licensed charitable bingo game. Payment shall not exceed Six Hundred Dollars ($600.00) per session to all persons compensated. (b) Contact pe…

(a) "Corporate acquisition opposed by management" means an attempt to acquire control of a publicly traded corporation that is an affiliated company by means of a tender offer that is opposed by the board of directors of the affiliated company. (b) "Current market price" means th…

A person applying for approval of a public offering pursuant to this section shall make a full disclosure of all material facts relating thereto to the Executive Director and Commission. To the extent applicable, the application must include the following information: (a) A descr…

The Executive Director and Commission will ordinarily permit an application for approval of a public offering pursuant to this regulation to be completed over a period of time as documents and information become available in accordance with the normal and customary practice in th…

A publicly traded corporation shall not directly or indirectly acquire control of a corporate licensee or affiliated company, and a person shall not acquire control of a publicly traded corporation which is an affiliated company, without the prior approval of the Commission. (Ado…

An application for approval of a transaction subject to Section 11 above must contain full disclosure of all material facts relating thereto, and include to the extent applicable: (a) The information required by Miss. Code Ann. § 75-76-255(1) (b). (b) The terms and provisions of …

Except as provided by Section 16 below, a publicly traded corporation that is an affiliated company shall not consummate a plan of recapitalization without the prior approval of the Commission. (Adopted: 09/25/1991.) Notes 13 Miss. Code. R. 2-8.14 Miss. Code Ann. § 75-76-255

Except as provided by Section 16 below, a publicly traded corporation that is an affiliated company shall not make an exceptional repurchase of securities without the prior approval of the Commission. (Adopted: 09/25/1991.) Notes 13 Miss. Code. R. 2-8.15 Miss. Code Ann. § 75-76-2…

Unless otherwise required by the provisions of the Act or these regulations, and notwithstanding the provisions of Sections 14 and 15 above, the approval of the Executive Director or Commission is not required before a publicly traded corporation that is an affiliated company may…

An application for approval of a plan of recapitalization subject to Section 14 or an exceptional repurchase of securities subject to Section 15 must contain full disclosure of all material facts relating thereto, and include to the extent applicable: (a) The terms and provisions…

The Commission may determine, upon the recommendation of the Executive Director, at the time of initial application by a publicly traded corporation for registration as a holding company or at any time thereafter that the public interest and the purposes of the Act require that a…