75-76-265 - Effect of failure of person connected with corporate licensee, holding company or intermediary company to obtain or maintain finding of suitability or license.
§ 75-76-265. Effect of failure of person connected with corporate licensee, holding company or intermediary company to obtain or maintain finding of suitability or license.
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 suitability, or if his license or finding of suitability is revoked, the corporate licensee, holding company, intermediary company or any person who directly or indirectly controls, is controlled by or is under common control with the corporate licensee, holding company or intermediary company shall not, after receipt of written notice from the commission:
(a) Pay him any remuneration for any service relating to the activities of a corporate licensee, except for amounts due for services rendered before the date of receipt of notice of such action by the commission. Any contract or agreement for personal services or the conduct of any activity at a licensed gaming establishment between a former employee whose employment was terminated because of failure to apply for a license or a finding of suitability, denial of a license or finding of suitability, or revocation of a license or a finding of suitability, or any business enterprise under the control of that employee and the corporate licensee, holding or intermediary company or registered publicly traded corporation is subject to termination. Every such agreement shall be deemed to include a provision for its termination without liability on the part of the licensee upon a finding by the commission that the business or any person associated therewith is unsuitable to be associated with a gaming enterprise. Failure expressly to include such a condition in the agreement is not a defense in any action brought pursuant to this section to terminate the agreement.
(b) Enter into any contract or agreement with him or with a business organization under his control which involves the operations of a corporate licensee, without the prior approval of the executive director.
(c) Employ him in any position involving the activities of a corporate licensee without prior approval of the executive director.
Sources: Laws, 1990 Ex Sess, ch. 45, § 134, eff from and after passage (approved June 29, 1990).