Current through Register Vol. 48, No. 38, September 20, 2024
a) The Board shall certify for each applicant
for or holder of an Owner's or Supplier's license each position, individual or
Business Entity that is to be approved by the Board and maintain suitability as
a Key Person of the licensee.
b)
Supplier Key Persons. With respect to an applicant for or holder of a
Supplier's license, Key Person shall include:
1) The Chief Executive Officer and the Chief
Operating Officer, or their functional equivalents, and each individual or
Business Entity that is a Substantial Owner.
2) Each individual or Business Entity that is
a Substantial Owner of any Business Entity that is a Substantial Owner of the
Illinois applicant or licensee.
3)
All other individuals or Business Entities that, upon review of the applicant's
or licensee's Table of Organization, Ownership and Control submitted under
Section
3000.223,
the Board determines hold a position or a level of ownership, control or
influence that is material to the regulatory concerns and obligations of the
Board for the specified licensee or applicant.
c) Owner Licensee Key Persons. With respect
to an applicant for or the holder of an Owner's license, Key Person shall
include:
1) Any Business Entity and any
individual with an ownership interest or voting rights of more than 5 percent
in the licensee or applicant, and the trustee of any trust holding such
ownership interest or voting rights.
2) The directors of the licensee or applicant
and its chief executive officer, president and chief operating officer, or
their functional equivalents.
3) A
Gaming Operations Manager or any other business entity or individual who has
influence and/or control over the conduct of gaming or the Riverboat Gaming
Operation.
4) All other individuals
or Business Entities that, upon review of the applicant's or licensee's Table
of Organization, Ownership and Control submitted under Section 3000.223, the
Board determines hold a position or a level of ownership, control or influence
that is material to the regulatory concerns and obligations of the Board for
the specified licensee or applicant.
d) Level 1 Occupational Licensees.
Individuals required to apply for and hold a Level 1 Occupational license,
pursuant to Section
3000.200(c),
may also be certified by the Board as Key Persons. For such individuals, the
disclosure and approval requirements and the standards for compliance with this
Part shall be those related to occupational licensure.
1) An individual denied occupational
licensure or whose license is revoked by a final determination of the Board is
unsuitable and shall not be allowed to function as a Key Person of any
applicant or licensee.
2) An
individual who, by voluntary action, relinquishes status as a Level 1
Occupational licensee and remains or becomes a Key Person shall be required to
comply with all requirements imposed by the Board and this Part upon Key
Persons.
e) Each
individual or Business Entity designated as a Key Person shall:
1) File a Business Entity Form or Personal
Disclosure Form 1 or its equivalent.
2) File, on an annual basis, a disclosure
affidavit, updated personal and background information, and updated tax and
financial documents and information.
3) Comply with the applicable provisions of
this Part and disclose promptly to the Board any material changes in status or
information previously provided to the Board.
4) As required, cooperate fully with any
investigation conducted by the Board.
5) Maintain suitability as a Key
Person.
6) Be subject to a fine for
each act or omission that is grounds for discipline of a licensee under the
provisions of Section
3000.110.
