New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 69A - APPLICATIONS
Subchapter 5 - FORMS
Section 13:69A-5.6B - Institutional Investor Certification
Universal Citation: NJ Admin Code 13:69A-5.6B
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Pursuant to 5:12-27.1, an institutional investor is:
1. Any retirement fund
administered by a public agency for exclusive benefit of Federal, state, or
local public employees;
2. Any
investment company registered under the Investment Company Act of 1940 (
15 U.S.C. §§
80a-1 et seq.);
3. Any collective investment trust organized
by banks under Part Nine of the Rules of the Comptroller of the
Currency;
4. Any closed end
investment trust;
5. Any chartered
or licensed life insurance company or property and casualty insurance
company;
6. Any banking or other
chartered or licensed lending institution;
7. Any investment advisor registered under
The Investment Advisors Act of 1940 (
15
U.S.C. §§
80b-1 et seq.);
and
8. Any such other persons as
the Division may determine for reasons consistent with the policies of the
Act.
(b) An institutional investor shall file a signed and dated certification that includes the following:
1. The name of the
person completing the form;
2. The
name of the investment company and position the person in (b)1 above holds with
that investment company;
3. The
principal place of business of the investment company;
4. The number of shares of voting stock held
by an investment company of either:
i. The
applicant for a casino service industry enterprise license or its holding or
intermediary company; or
ii. The
applicant for a casino license or its holding or intermediary
company;
5. The
percentage of the issued and outstanding common or preferred voting stock that
the number of shares held by the investment company constitutes;
6. A statement as to the specific subsection
of (a) above within which the investment company falls; and
7. If the shares are held in subsidiary
funds, confirmation that:
i. The institutional
investor is the 100 percent beneficial owner of any and all subsidiary funds
holding shares, or has complete managerial authority over any assets held by
that subsidiary fund; and
ii. No
individual subsidiary fund holds more than five percent of the issued and
outstanding common or preferred voting stock.
(c) The investment company shall certify the following:
1. The purchase of the stock was
for investment purposes only;
2. It
has no involvement in the business activities of the issuer of the
stock;
3. It has no intention of
influencing or affecting the affairs of the issuer, casino licensee or its
holding or intermediary companies;
4. If it determines subsequently to influence
or affect the affairs of the issuer, it shall in not less than 30 days before
taking any such actions:
i. Provide the
Division notice of such intent; and
ii. File with the Division an application for
qualification;
5. It
will submit to the jurisdiction of the State of New Jersey the Division, the
Commission, the Act and the rules promulgated thereunder; and
6. It will comply with any and all requests
for information from the Division.
(d) Notwithstanding (c)4 above, an investment company may vote on matters put to the vote of the outstanding security holders.
Disclaimer: These regulations may not be the most recent version. New Jersey 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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