Mississippi Administrative Code

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…

(a) The Commission shall consider the provisions of Miss. Code Ann. § 75-76-263 in making its determination as to which beneficial owners of voting securities of publicly traded corporations must or may be required to be found suitable or to be licensed. (b) All rules and regulat…

(a) Without in any way limiting the generality of the provisions of the Act, in connection with any recommendation or action, the Executive Director or Commission may provide: 1. That a time period be accelerated or extended; or 2. That as a condition to the processing of an appl…

(a) The Commission shall require an application for a finding of suitability and may require licensing of any officer or employee of a publicly traded corporation whom the Commission finds to be actively and directly engaged in the administration or supervision of, or any other s…

(a) The Commission shall require an application for a finding of suitability and may require licensing of any director whom the Commission finds to be actively, and directly engaged in the administration or supervision of the gaming activities at a licensed gaming establishment o…

Except in a transaction subject to Section 12 which involves a change of control of a publicly traded corporation as a whole, an individual may be appointed or elected to a position described in Section 20 or 21 without the prior approval of the Commission, and may occupy the pos…

(a) "Institutional investor" means: 1. A bank as defined in Section 3(a)(6) of the Federal Securities Exchange Act; 2. An insurance company as defined in Section 2(a)(17) of the Investment Company Act of 1940, as amended; 3. An investment company registered under Section 8 of the…

If a stop order is issued by the Executive Director pursuant to the provisions of this regulation, the Commission shall, upon request of the person that is the subject of the order, conduct a hearing on the merits of the matter no later than its next regular meeting for which not…

The Executive Director and Commission will consider all relevant material facts in determining whether to recommend or grant an approval required or permitted by this regulation. The Executive Director and Commission may consider not only the effects of the action or approval req…

(a) A publicly traded corporation is not eligible to apply for or hold a state gaming license or manufacturer's, seller's, or distributor's license. A publicly traded corporation may be found suitable to acquire or hold an interest in a corporate licensee. (b) A person shall not …

Prior approval of the Commission is required for any public offering of any securities of an affiliated company: (a) Which is not a publicly traded corporation if the securities will be offered by such an affiliated company or by a controlling person thereof. (b) Which is a publi…

(a) An affiliated company which is a publicly traded corporation may apply for approval of a continuous or delayed public offering of its securities if such an affiliated company:1. Has a class of securities listed on either the New York Stock Exchange, the American Stock Exchang…

The Commission may find a publicly traded corporation unsuitable to be a holding company of a corporate license if at a time when the applicant was not subject to the jurisdiction of the Commission it obtained the approval or consent of its stockholders to have a material involve…

If the Commission approves a public offering of securities which involves securities issuable on exercise of purchase rights, such approval is deemed continuing for the entire period of it's exercise or convertibility and further approval is not required for the actual issuance o…

(a) No person shall sell, purchase, assign, lease, grant or foreclose a security interest, hypothecate or otherwise transfer, convey or acquire in any manner whatsoever any interest of any sort whatever in or to any licensed gaming operation or any portion thereof, or enter into …

(a) The granting of emergency permission to participate is a revocable privilege, and is not to be construed as a finding on the part of the Commission that the proposed transferee is qualified or suitable to hold a state gaming license or to be registered or to be approved. Such…

(a) Any licensee that receives, accepts, or makes use of any cash, property, credit, guaranty, benefit or any form of security loaned to, or provided for or on behalf of the licensee or an officer, director, agent employee or stockholder of the licensee, in a transaction required…

(a) No person shall acquire or be granted an option to purchase an interest in a general partnership, limited partnership, or corporate licensee without first notifying the Executive Director, on such forms as may be required by the Executive Director, of the terms and conditions…

(a) Definitions. In addition to the terms defined in the Act and the regulations thereunder, the following definitions shall apply in this regulation:1. "Lessor" means any person who leases or rents any property, real or personal, to an operating licensee or to a person who, in t…

(a) In the event of the death or judicially established disability of a licensee or a stockholder of a corporate licensee, the spouse, next of kin, personal representative or guardian of such deceased or disabled person or the person in charge of the licensed establishment, or, i…

(a) In the event that a licensee files any petition with the bankruptcy court for relief as a debtor or has such a petition filed against it, or a receiver is appointed for such licensed business or an assignment of such business is made for the benefit of creditors, the licensee…

(a) Except as and to the extent provided in these regulations pertaining to emergency situations, no individual who is the owner of any interest in a licensed gaming operation shall in any manner whatsoever transfer any interest therein to any person, firm or corporation, and no …

No licensee or holding company, or officer, director or transfer agent thereof, shall cause or permit any stock certificate or other evidence of beneficial interest therein to be registered in its books or records in the name of any nominee, agent, trustee or any other person oth…

Except as and to the extent provided in these regulations pertaining to emergency situations, no money or other thing of value constituting any part of the consideration for the transfer or acquisition of any interest in a licensed gaming operation, in a licensee or in a holding …

If a transfer of an interest in a licensed gaming operation, in a licensee or in a holding company, is contemplated and, in the opinion of the Commission, the exigencies of the situation require that the proposed transferee or transferees be permitted to make available funds or c…

(a) A proposed transferee of an interest who desires to make available funds or credit for use in the operation of the licensed establishment or games prior to actual completion of the transfer of interest in accordance with the foregoing regulations shall make written applicatio…

After receipt of a proper application for permission to participate and such additional information as the Executive Director or the Commission may require, and after such investigation as the Executive Director or the Commission deems necessary, the Commission may grant emergenc…