Mississippi Administrative Code
Title 13 - Gaming
Part 2 - LICENSING
Chapter 5 - CORPORATE LICENSEES
Rule 13-2-5.2 - Individual Licensing Of Shareholders Of Corporate Licensee

Universal Citation: MS Code of Rules 13-2-5.2

Current through September 24, 2024

(a) Except as provided in subsection (b), each individual must be found suitable to hold a gaming license before he may:

1. Own an equity security issued by a corporate licensee, or

2. Hold any security issued by a corporate licensee which gives the holder voting rights in the corporation.

(b) This section does not apply to any employee who owns stock through a stock bonus plan, pension plan, or other employee benefit program established by the licensee, so long as the plan is administered by the licensee or the trustee or the administrator of the plan is found suitable by the Commission, and so long as the employee does not hold legal title to the security for any longer than is reasonably necessary to facilitate the transfer to the plan and does not exercise any voting rights or receive any dividends during such period. Notwithstanding the foregoing, the Commission may require any person holding a beneficial interest in such a plan to be found suitable. (Adopted: 09/25/1991.)

Miss. Code Ann. § 75-76-211

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