Louisiana Administrative Code
Title 42 - LOUISIANA GAMING
Part III - Gaming Control Board
Chapter 47 - Landbased Casino Gaming
Section III-4705 - Suitability of Certain Lenders
Universal Citation: LA Admin Code III-4705
Current through Register Vol. 50, No. 3, March 20, 2024
A. Any person holding a security interest in immovable or movable property used in gaming operations shall be required to demonstrate suitability to the board.
B. The following lenders may be presumed suitable in connection with any transaction which is otherwise in compliance with the rules:
1. an institutional lender as
defined in the Act; or
2. a person
previously found suitable and approved by the board.
C. The board, in its sole discretion, may rescind the presumption of suitability provided in this section and require any lender to demonstrate its suitability in accordance with the Act and rules.
AUTHORITY NOTE: Promulgated in accordance with R.S. 27:15 and 24.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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