Title 75, Regulation of Trade, Commerce and Investments

(a) On or before the fifteenth day of each month, the gross revenue fees collected under the provisions of Section 75-76-195 during the preceding month shall be paid and distributed as follows:(a) Fees designated as “local government fees” remitted by licensees who are located wi…

(a) For the purpose of Sections 75-76-199 through 75-76-265:(a) “Affiliated company” means a subsidiary company, holding company, intermediate company or any other form of business organization that:(i) Controls, is controlled by or is under common control with a corporate licens…

(1) The policy of the State of Mississippi with respect to the issuance of state gaming licenses to corporations is:(a) To maintain effective control over the conduct of gaming by corporate licensees.(b) To restrain any speculative promotion of the stock or other securities of ga…

(a) In order to be eligible to receive a state gaming license, a corporation shall:(a) Be incorporated:(i) In the State of Mississippi, although such corporation may be a wholly or partly owned subsidiary of a corporation which is chartered in another state of the United States; …

No domestic corporation is eligible to receive a gaming license unless it is in good standing in this state. No foreign corporation is eligible to receive a gaming license unless it qualifies to do business in this state.

(1) The purported sale, assignment, transfer, pledge or other disposition of any security issued by a corporation which holds a state gaming license or the granting of an option to purchase such a security is void unless approved in advance by the commission. (2) If at any time t…

(a) A corporation which applies for a state gaming license shall register as a corporation with the commission and shall provide the following information to the executive director:(a) The organization, financial structure and nature of the business to be operated, including the …

(1) The executive director in pursuit of the attainment of the objectives and the purposes of this chapter may:(a) Sue and be sued on behalf of the commission;(b) Acquire real property in accordance with statutory procedure and make improvements thereon on behalf of the commissio…

All officers and directors of the corporation which holds or applies for a state gaming license must be licensed individually, according to the provisions of this chapter; and if, in the judgment of the commission, the public interest will be served by requiring any or all of the…

(1) After licensing pursuant to this chapter, but before the corporation may issue or transfer any security to any person, it shall file a report of its proposed action with the commission and the executive director, which report shall request the approval of the commission. The …

(1) After licensing pursuant to this chapter, the corporation shall:(a) Report to the commission and the executive director in writing any change in corporate personnel who have been designated by the commission or the executive director as key executives.(b) Furnish the executiv…

(1) If an employee of a corporate licensee who is required to be licensed individually:(a) Does not apply for a license within thirty (30) days after the executive director requests him to do so, and the commission makes a finding of unsuitability for that reason; or(b) Is denied…

(1) The policy of the State of Mississippi with respect to the issuance of state gaming licenses to limited partnerships is:(a) To maintain effective control over the conduct of gaming by limited partnership licensees.(b) To restrain any speculative promotion of limited partnersh…

(a) In order to be eligible to receive a state gaming license, a limited partnership shall:(a) Be formed under the laws of this state;(b) Maintain an office of the limited partnership on the licensed premises;(c) Comply with all of the requirements of the laws of this state perta…

(1) The sale, assignment, transfer, pledge or other disposition of any interest in a limited partnership which holds a state gaming license is ineffective unless approved in advance by the commission. (2) If at any time the commission finds that an individual owner of any such in…

(a) A limited partnership which applies for a state gaming license shall register as a limited partnership with the commission and shall provide the following information to the executive director:(a) The organization, financial structure and nature of the business to be operated…

Every general partner and limited partner of a limited partnership which holds or applies for a state gaming license must be licensed individually, according to the provisions of this chapter; and if, in the judgment of the commission, the public interest will be served by requir…

(1) After licensing pursuant to this chapter, the limited partnership shall:(a) Report to the commission and the executive director in writing any change in personnel who have been designated by the commission as key executives.(b) Furnish the executive director an annual profit …

(a) The executive director shall direct and supervise all administrative and technical activities of the commission in accordance with the provisions of this chapter and with the administrative procedures of and regulations adopted by the commission. It shall be the duty of the e…

(1) If an employee of a limited partnership licensee who is required to be licensed individually:(a) Does not apply for a license within thirty (30) days after the executive director requests him to do so, and the commission makes a finding of unsuitability for that reason; or(b)…

Sections 75-76-235 through 75-76-241, inclusive, apply to every holding company or intermediary company except a publicly traded corporation which has been exempted from the operation of all or some of the provisions of such sections.

(1) If the corporation applying for or holding a license is or becomes a subsidiary, each holding company and each intermediary company with respect thereto must:(a) Qualify to do business in the State of Mississippi.(b) If it is a corporation, register with the commission and fu…

(1) Each officer, employee, director, partner, principal, trustee or direct or beneficial owner of any interest in any holding company or intermediary company who the commission determines is or is to become engaged in the administration or supervision of, or any other significan…

(a) If the corporation applying for or holding a license is or becomes a subsidiary, each holding company and intermediary company shall furnish the executive director the following information:(a) The organization, financial structure and nature of the business it operates.(b) T…

(a) If any corporate or limited partnership licensee, or if any holding company or intermediary company with respect thereto, does not comply with the laws of this state and the regulations of the commission, the commission may, in its discretion, do any one, all or a combination…

(a) The Legislature hereby declares that:(a) Some corporate acquisitions, repurchases of securities and corporate defense tactics affecting corporate gaming licensees and publicly traded corporations that are affiliated companies can constitute business practices which may be inj…

(a) The policy of the State of Mississippi with respect to corporate acquisitions, repurchases of securities and corporate recapitalizations affecting corporate licensees and publicly traded corporations that are affiliated companies is to:(a) Assure the financial stability of co…

(a) The commission may adopt regulations providing for the review and approval of corporate acquisitions, repurchases of securities and corporate defense tactics affecting corporate gaming licensees and publicly traded corporations that are affiliated companies. The regulations m…

(a) The commission may exempt a publicly traded corporation from compliance with:(a) The provisions of Section 75-76-207.(b) Some or all of the provisions of Sections 75-76-235 through 75-76-241. To the extent of such an exemption, the corporation shall comply instead with the pr…

Except as otherwise authorized in Section 7-5-39, the Attorney General and his assistants shall represent the commission and the executive director in any proceeding to which the commission or the executive director is a party under this chapter and shall also advise the commissi…

(1) A corporation or other legal entity which is organized under the laws of another country and seeks to register with the commission as a publicly traded corporation must submit an application to the executive director. (2) The application must provide the executive director wi…

(a) In determining whether to recommend that the commission approve an application submitted pursuant to Section 75-76-251, the executive director may consider, in addition to all other requirements of this chapter:(a) Whether the governmental authority in the foreign country has…

(1) If a corporation or limited partnership applying for or holding a state gaming license is or becomes owned in whole or in part or controlled by a publicly traded corporation, such publicly traded corporation must:(a) Maintain a ledger in the principal office of its subsidiary…

(1) Each officer and employee of a publicly traded corporation who the commission determines is, or is to become, actively and directly engaged in the administration or supervision of, or any other significant involvement with, the activities of the corporate or limited partnersh…

(1) Except as provided in subsection (2), after the publicly traded corporation has registered pursuant to this chapter, and while the subsidiary holds a gaming license, the publicly traded corporation shall:(a) Report promptly to the executive director in writing any change in i…

(a) If any corporate or limited partnership licensee owned or controlled by a publicly traded corporation subject to the provisions of this chapter, or that publicly traded corporation, does not comply with the laws of this state and the regulations of the commission, the commiss…

(1) Each person who acquires, directly or indirectly, beneficial ownership of any voting security in a publicly traded corporation which is registered with the commission may be required to be found suitable if the commission has reason to believe that his acquisition of such own…

(a) If any person who is required by or pursuant to this chapter to be licensed or found suitable because of his connection with a corporate licensee, holding company or intermediary company, including a publicly traded corporation, fails to apply for a license or a finding of su…

(1) Conviction by a court of competent jurisdiction of a person for a violation of, an attempt to violate, or a conspiracy to violate any of the provisions of this chapter shall act as an immediate revocation of all licenses which have been issued to the violator, and, in additio…

(a) For the purposes of Sections 75-76-271 through 75-76-277:(a) “Foreign gaming” means any gaming operations outside this state.(b) “Licensee” means a person who:(i) Is licensed or required to be licensed pursuant to Section 75-76-57 or 75-76-63; or(ii) Is or is required to be l…

(1) The provisions of this chapter with respect to state gaming licenses and manufacturer’s, seller’s and distributor’s licenses shall be administered by the executive director for the protection of the public and in the public interest in accordance with the policy of this state…

(1) Except as provided in subsections (2), (3) and (5), no licensee may be involved in foreign gaming without the prior approval of the commission, acting upon a recommendation of the executive director. Any approval granted under this section is a privilege which may be revoked,…

(1) A licensee seeking approval to participate in foreign gaming shall apply to the executive director in writing, under oath, supplying any information and supporting data pertaining to himself and to the foreign gaming operations which the executive director and the commission …

(1) The executive director and the commission shall consider without limitation the following factors in deliberating the granting or denial of approval to conduct foreign gaming operations:(a) The means, including agreements with foreign jurisdictions, for the commission and the…

A licensee who continues participation in foreign gaming operations after an order of the commission terminating approval engages in an unsuitable method of operation and may be disciplined by the commission.

(1) From and after June 29, 1990, any cruise vessel or vessel which is licensed under the provisions of this chapter and which is used for gambling games, as determined by the Tax Commission, shall be exempt from all ad valorem taxes through June 30, 1991. (2) On or before Decemb…