reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ENFORCEMENT OF GAMING DEBTS NOT EVIDENCED BY CREDIT INSTRUMENT (§§ 75-76-157 — 75-76-175) › Section 75-76-175 - Acceptance of credit instruments by licenses

(1)
A credit instrument accepted on or after June 29, 1991, is valid and may be enforced by legal process.
(2)
A licensee or a person acting on the licensee's behalf may accept an incomplete credit instrument which:
(a)
Is signed by a patron; and
(b)
States the amount of the debt in figures.
and may complete the instrument as is necessary for the instrument to be presented for payment.
(3)
A licensee or person acting on behalf of a licensee:
(a)
May accept a credit instrument that is dated later than the date of its execution if that later date is furnished at the time of the execution of the credit instrument by the patron.
(b)
May not accept a credit instrument which is incomplete, except as authorized by subsection (2) of this section.
(c)
May accept a credit instrument that is payable to an affiliated company or may complete a credit instrument in the name of an affiliated company as payee if the credit instrument otherwise complies with this subsection and the records of the affiliated company pertaining to the credit instrument are made available to the executive director upon request.
(4)
This section does not prohibit the establishment of an account by a deposit of cash, recognized traveler's check, or any other instruments which is equivalent to cash.
(5)
Any person who violates the provisions of this section is subject only to the penalties provided in Sections
75-76-103
through
75-76-119
, inclusive.
(6)
The commission may adopt regulations prescribing the conditions under which a credit instrument may be redeemed or presented to a bank for collection or payment.
Laws, 1990 Ex Sess, ch. 45, § 89, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-177 - License fee based on gross revenues of licensee; penalty for failure to pay fee

(1)
From and after August 1, 1990, there is hereby imposed and levied on each gaming licensee a license fee based upon all the gross revenue of the licensee as follows:
(a)
Four percent (4%) of all the gross revenue of the licensee which does not exceed Fifty Thousand Dollars ($50,000.00) per calendar month;
(b)
Six percent (6%) of all the gross revenue of the licensee which exceeds Fifty Thousand Dollars ($50,000.00) per calendar month and does not exceed One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month; and
(c)
Eight percent (8%) of all the gross revenue of the licensee which exceeds One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month.
(2)
All revenue received from any game or gaming device which is leased for operation on the premises of the licensee-owner to a person other than the owner thereof or which is located in an area or space on such premises which is leased by the licensee-owner to any such person, must be attributed to the owner for the purposes of this section and be counted as part of the gross revenue of the owner. The lessee is liable to the owner for his proportionate share of such license fees.
(3)
If the amount of license fees required to be reported and paid pursuant to this section is later determined to be greater or less than the amount actually reported and paid by the licensee, the Chairman of the State Tax Commission shall:
(a)
Assess and collect the additional license fees determined to be due, with interest thereon until paid; or
(b)
Refund any overpayment, with interest thereon, to the licensee.
Interest must be computed, until paid, at the rate of one percent (1%) per month from the first day of the first month following either the due date of the additional license fees or the date of overpayment.
(4)
Failure to pay the fees provided for in this section when they are due for continuation of a license shall be deemed a surrender of the license.
Laws, 1990 Ex Sess, ch. 45, § 90; Laws, 1997, ch. 562, § 4, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-179 - Income tax credit for license fees paid

License fees paid under Section
75-76-177
in any taxable year shall be allowed as credit against the income tax liability of the licensee for that taxable year.
Laws, 1990 Ex Sess, ch. 45, § 91, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-183 - Application fee and annual license fee for license to conduct gaming aboard cruise vessel

(1)
Each applicant for a license to conduct gaming aboard a vessel or cruise vessel shall pay an application fee of Five Thousand Dollars ($5,000.00).
(2)
Each licensee who is licensed to conduct gaming aboard a vessel or cruise vessel shall pay an annual license fee of Five Thousand Dollars ($5,000.00).
Laws, 1990 Ex Sess, ch. 45, § 93, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-185 - Imposition of fee based on value of unpaid collectible credit instruments

(1)
Except as otherwise provided in Section
75-76-187
, there is hereby imposed and levied on each licensee who conducts a gaming operation a fee based on the value of any collectible credit instrument received as a result of that gaming operation which is held by the licensee or any affiliate of the licensee and remains unpaid on the last tax day.
(2)
The fee must be:
(a)
Calculated by using the rates and monetary limits set forth in Section
75-76-177
; and
(b)
Collected by the State Tax Commission and refunded pursuant to the regulations adopted by the State Tax Commission.
Laws, 1990 Ex Sess, ch. 45, § 94, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-187 - Continuing operations and transfer of license; credit for prepaid license fees

(1)
If the commission approves the issuance of a license for gaming operations at the same location, within thirty (30) days following a change described in subsection (2) of this section, for the purpose of Section
75-76-177
and Sections
75-76-181
through
75-76-191
, inclusive, the gaming license shall be deemed transferred and the previously licensed operation shall be deemed a continuing operation.
(2)
Credit must be granted for prepaid license fees as described in subsection (1) if:
(a)
The securities of a corporate gaming licensee are or become publicly held or publicly traded and the gaming operations of that corporation are transferred to a wholly owned subsidiary corporation;
(b)
A corporate gaming licensee is merged with another corporation which is the surviving entity and at least eighty percent (80%) of the surviving entity is owned by shareholders of the former licensee;
(c)
A corporate gaming licensee is dissolved and the parent corporation of the dissolved corporation or a subsidiary corporation of the parent corporation, at least eighty percent (80%) of which is owned by the parent corporation, becomes the gaming licensee.
Laws, 1990 Ex Sess, ch. 45, § 95, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-189 - Penalty for failing to pay or evading payment of license fees

Any person who willfully fails to report, pay or truthfully account for and pay over the license fees imposed by this chapter, or willfully attempts in any manner to evade or defeat any such tax or payment thereof, or any licensee who puts additional games into play without authority of the commission to do so or any licensee who fails to remit any license fee provided for by this chapter when due is, in addition to the amount due, liable for a penalty of the amount of the license fee evaded or not paid, collected or paid over. The penalty must be assessed and collected in the same manner as are other charges, license fees and penalties under this chapter.
Laws, 1990 Ex Sess, ch. 45, § 96, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-191 - Additional license fee imposed on applicants for state gaming license based on number of games operated

(1)
In addition to any other state gaming license fees provided for in this chapter, from and after August 1, 1990, there is hereby imposed and levied on each applicant for a state gaming license a license fee to be determined on the basis of the following annual rates:
(a)
From establishments operating or to operate ten (10) games or less:
Those establishments operating or to operate one (1) game, the sum of Fifty Dollars ($50.00).
Those establishments operating or to operate two (2) games, the sum of One Hundred Dollars ($100.00).
Those establishments operating or to operate three (3) games, the sum of Two Hundred Dollars ($200.00).
Those establishments operating or to operate four (4) games, the sum of Three Hundred Seventy-five Dollars ($375.00).
Those establishments operating or to operate five (5) games, the sum of Eight Hundred Seventy-five Dollars ($875.00).
Those establishments operating or to operate six (6) or seven (7) games, the sum of One Thousand Five Hundred Dollars ($1,500.00).
Those establishments operating or to operate eight (8), nine (9) or ten (10) games, the sum of Three Thousand Dollars ($3,000.00).
(b)
From establishments operating or to operate more than ten (10) games:
For each game up to and including sixteen (16) games, the sum of Five Hundred Dollars ($500.00).
For each game from seventeen (17) to twenty-six (26) games, inclusive, the sum of Four Thousand Eight Hundred Dollars ($4,800.00).
For each game from twenty-seven (27) to thirty-five (35) games, inclusive, the sum of Two Thousand Eight Hundred Dollars ($2,800.00).
For each game more than thirty-five (35) games, the sum of One Hundred Dollars ($100.00).
(2)
The license fee imposed by this section is to be paid by the applicant to the State Tax Commission on or before the filing of the application for issuance of a gaming license by the applicant, and is to be paid annually thereafter for continuation of the gaming license. Upon such payment, the Chairman of the State Tax Commission shall certify to the executive director that such fee has been paid by the applicant, and the amount of the fee paid.
(3)
Card games, that is, stud or draw poker, bridge, whist, solo, low ball, and panguingui for money, and slot machines, when not utilized as an adjunct to or a unit of any banking, percentage or mechanical device or machine, are not gambling games under the provisions of this section.
(4)
All games operated or conducted in one (1) room or a group of rooms in the same or a contiguous building or vessel are considered one (1) operation, and the license to be paid must be determined on the aggregate number of games in each room or group of rooms in the same or a contiguous building or vessel.
Laws, 1990 Ex Sess, ch. 45, § 97, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-193 - Calculation of gross revenues; certain expenses not deductible

(1)
In calculating gross revenue, any prizes, premiums, drawings, benefits or tickets which are redeemable for money or merchandise or other promotional allowance, except money or tokens paid at face value directly to a patron as the result of a specific wager and the amount the cash paid to purchase an annuity to fund winnings paid to that patron over several years by an independent financial institution, must not be deducted as losses from winnings at any game except a slot machine.
(2)
In calculating gross revenue from slot machines, the actual cost to the licensee of any personal property distributed to a patron as the result of a legitimate wager may be deducted as a loss, but not travel expenses, food, refreshments, lodging or services.
Laws, 1990 Ex Sess, ch. 45, § 98, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-195 - License fee based on gross revenues of licensee imposed by municipalities and counties; penalty for failure to pay fee

(1)
In addition to any state gaming license fees or taxes, from and after August 1, 1990, (a) a municipality may impose a fee upon a licensee located within the municipality for conducting, carrying on or operating any gambling game, slot machine or other game of chance based upon all the gross revenue of the licensee derived from his establishment within the municipality, and (b) a county may impose a fee upon a licensee located within the unincorporated area of the county for conducting, carrying on or operating any gambling game, slot machine or other game of chance based upon all the gross revenue of the licensee derived from his establishment within the unincorporated area of the county, as follows:
(i)
Four-tenths percent (.4%) of all the gross revenue which does not exceed Fifty Thousand Dollars ($50,000.00) per calendar month;
(ii)
Six-tenths percent (.6%) of all the gross revenue which exceeds Fifty Thousand Dollars ($50,000.00) per calendar month and does not exceed One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month; and
(iii)
Eight-tenths percent (.8%) of all the gross revenue of the licensee which exceeds One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month.
(2)
Whenever a municipality or county imposes a fee under this section, it shall not become effective until the first day of the month following the month in which the municipality or county adopts the ordinance imposing the fee.
(3)
All revenue received from any game or gaming device which is leased for operation on the premises of licensee-owner to a person other than the owner thereof or which is located in an area or space on such premises which is leased by the licensee-owner to any such person must be attributed to the owner for the purposes of this section and be counted as part of the gross revenue of the owner. The lessee is liable to the owner for his proportionate share of such fees.
(4)
If the amount of fees required to be reported and paid pursuant to this section is later determined to be greater or less than the amount actually reported and paid by the licensee, the State Tax Commission on behalf of the local government shall:
(a)
Assess and collect the additional fees determined to be due, with interest thereon until paid; or
(b)
Refund any overpayment, with interest thereon, to the licensee.
Interest must be computed, until paid, at the rate of one percent (1%) per month from the first day of the month following either the due date of the additional fees or the date of overpayment.
(5)
Failure to pay the fees provided for in this section when they are due for continuation of a license shall be deemed a surrender of the license.
Laws, 1990 Ex Sess, ch. 45, § 99, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › FEES (§§ 75-76-177 — 75-76-197) › Section 75-76-197 - Distribution of fees collected under provisions of section 75-76-195

On or before the fifteenth day of each month, the gross revenue fees collected under the provisions of Section
75-76-195
during the preceding month shall be paid and distributed as follows:
(a)
Fees designated as "local government fees" remitted by licensees who are located within an incorporated municipality shall be distributed:
(i)
To such municipal corporation in the proportion that the population of the municipal corporation bears to the entire population of the county in which the municipal corporation is located, according to the most recent federal census; and
(ii)
To the county in which the municipal corporation is located in the proportion that the population of the county outside of that municipal corporation bears to the entire population of the county, according to the most recent federal census.
(b)
Fees designated as "local government fees" remitted by licensees who are not located within an incorporated municipality shall be distributed to the county in which the licensee is located.
Laws, 1990 Ex Sess, ch. 45, § 100, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-201 - State policy with respect to issuance of gaming license to corporations; waiver of requirements

(1)
The policy of the State of Mississippi with respect to the issuance of state gaming licenses to corporations is:
(a)
To maintain effective control over the conduct of gaming by corporate licensees.
(b)
To restrain any speculative promotion of the stock or other securities of gaming enterprises.
(2)
The commission may waive, either selectively or by general regulation, one or more of the requirements of Sections
75-76-203
through
75-76-217
if it makes a written finding that such waiver is consistent with the state policy.
Laws, 1990 Ex Sess, ch. 45, § 102, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-203 - Eligibility requirements for corporations

In order to be eligible to receive a state gaming license, a corporation shall:
(a)
Be incorporated:
(i)
In the State of Mississippi, although such corporation may be a wholly or partly owned subsidiary of a corporation which is chartered in another state of the United States; or
(ii)
In another state of the United States, if all persons having any direct or indirect interest of any nature in such corporation are licensed as required by this chapter and any applicable regulations of the commission;
(b)
Maintain an office of the corporation on the licensed premises;
(c)
Comply with all of the requirements of the laws of the State of Mississippi pertaining to corporations; and
(d)
Maintain a ledger in the principal office of the corporation in Mississippi, which shall:
(i)
At all times reflect the ownership of every class of security issued by the corporation; and
(ii)
Be available for inspection by the commission or the executive director or his employees at all reasonable times without notice.
Laws, 1990 Ex Sess, ch. 45, § 103, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-205 - Additional requirements for corporations

No domestic corporation is eligible to receive a gaming license unless it is in good standing in this state. No foreign corporation is eligible to receive a gaming license unless it qualifies to do business in this state.
Laws, 1990 Ex Sess, ch. 45, § 104, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-207 - Approval of commission required for any disposition of securities of licensed corporation; finding of unsuitability of individual owner of security; effect of finding of unsuitability; certificate evidencing security to bear statement of restrictions

(1)
The purported sale, assignment, transfer, pledge or other disposition of any security issued by a corporation which holds a state gaming license or the granting of an option to purchase such a security is void unless approved in advance by the commission.
(2)
If at any time the commission finds that an individual owner of any such security is unsuitable to continue as a gaming licensee in this state, the owner shall immediately offer the security to the issuing corporation for purchase. The corporation shall purchase the security so offered, for cash at fair market value, within ten (10) days after the date of the offer.
(3)
Beginning upon the date when the commission serves upon the corporation notice of a determination of unsuitability pursuant to subsection (2), it is unlawful for the unsuitable owner:
(a)
To receive any dividend or interest upon any such security;
(b)
To exercise, directly or through any trustee or nominee, any voting right conferred by such security; or
(c)
To receive any remuneration in any form from the corporation, for services rendered or otherwise.
(4)
Every security issued by a corporation which holds a gaming license must bear a statement, on both sides of the certificate evidencing the security, of the restrictions imposed by this section.
Laws, 1990 Ex Sess, ch. 45, § 105, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-209 - Information required of corporations applying for gaming license

A corporation which applies for a state gaming license shall register as a corporation with the commission and shall provide the following information to the executive director:
(a)
The organization, financial structure and nature of the business to be operated, including the names, personal history and fingerprints of all officers, directors and key employees, and the names, addresses and number of shares held by all stockholders.
(b)
The rights and privileges acquired by the holders of different classes of authorized securities, including debentures.
(c)
The terms on which securities are to be offered.
(d)
The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges or any other indebtedness or security device.
(e)
The extent of the equity security holding in the corporation of all officers, directors and underwriters, and their remuneration as compensation for services, in the form of salary, wages, fees or otherwise.
(f)
Remuneration to persons other than directors and officers exceeding Thirty Thousand Dollars ($30,000.00) per annum.
(g)
Bonus and profit sharing arrangements.
(h)
Management and service contracts.
(i)
Options existing or to be created.
(j)
Balance sheets for at least three (3) preceding fiscal years, or, if the corporation has not been incorporated for a period of three (3) years, balance sheets from the time of its incorporation. All balance sheets shall be certified by independent public accountants certified or registered in the State of Mississippi.
(k)
Profit and loss statements for at least the three (3) preceding fiscal years, or, if the corporation has not been incorporated for a period of three (3) years, profit and loss statements from the time of its incorporation. All profit and loss statements shall be certified by independent public accountants certified or registered in the State of Mississippi.
(l)
Any further financial data which the executive director or the commission may deem necessary or appropriate for the protection of the State of Mississippi or licensed gambling, or both.
Laws, 1990 Ex Sess, ch. 45, § 106, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-211 - Officers and directors of corporation required to be licensed; other persons required to be licensed

All officers and directors of the corporation which holds or applies for a state gaming license must be licensed individually, according to the provisions of this chapter; and if, in the judgment of the commission, the public interest will be served by requiring any or all of the corporation's individual stockholders, lenders, holders of evidences of indebtedness, underwriters, key executives, agents or employees to be licensed, the corporation shall require such persons to apply for a license in accordance with the laws and requirements in effect at the time the commission requires such licensing. A person who is required to be licensed by this section shall apply for a license within thirty (30) days after he becomes an officer or director. A person who is required to be licensed pursuant to a decision of the commission shall apply for a license within thirty (30) days after the executive director requests him to do so.
Laws, 1990 Ex Sess, ch. 45, § 107, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-213 - Report of proposed issuance or transfer of corporate securities; report of change in corporate officers and directors; approval of commission

(1)
After licensing pursuant to this chapter, but before the corporation may issue or transfer any security to any person, it shall file a report of its proposed action with the commission and the executive director, which report shall request the approval of the commission. The commission shall have ninety (90) days within which to approve or deny the request. If the commission denies the request, the corporation shall not issue or transfer any such security.
(2)
After licensing pursuant to this chapter, the corporation shall file a report of each change of the corporate officers and directors with the commission and the executive director. The commission shall have ninety (90) days within which to approve or disapprove such change. During such ninety-day period and thereafter if the commission does not disapprove the change, such officer or director shall be entitled to exercise all powers of the office to which he was so elected or appointed.
Laws, 1990 Ex Sess, ch. 45, § 108, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-215 - Report of changes in corporate key executives; furnishing annual profit and loss statement, balance sheet and federal income return

(1)
After licensing pursuant to this chapter, the corporation shall:
(a)
Report to the commission and the executive director in writing any change in corporate personnel who have been designated by the commission or the executive director as key executives.
(b)
Furnish the executive director an annual profit and loss statement and an annual balance sheet.
(2)
The commission or the executive director may require that any such corporation furnish the commission or the executive director with a copy of its federal income tax return within thirty (30) days after such return is filed with the federal government.
Laws, 1990 Ex Sess, ch. 45, § 109, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-217 - Failure of corporate employee to obtain or retain license; notice of new employee replacing terminated employee

(1)
If an employee of a corporate licensee who is required to be licensed individually:
(a)
Does not apply for a license within thirty (30) days after the executive director requests him to do so, and the commission makes a finding of unsuitability for that reason; or
(b)
Is denied a license; or
(c)
Has his license revoked by the commission, the corporate gaming licensee by whom he is employed shall terminate his employment in any capacity in which he is required to be licensed and shall not permit him to exercise a significant influence over the operation of the gaming establishment upon being notified by registered or certified mail of that action.
(2)
If the corporate licensee designates another employee to replace the employee whose employment was terminated, it shall promptly notify the commission or the executive director and shall cause the newly designated employee to apply for a gaming license.
Laws, 1990 Ex Sess, ch. 45, § 110, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-219 - State policy with respect to issuance of gaming licenses to limited partnerships; waiver of requirements

(1)
The policy of the State of Mississippi with respect to the issuance of state gaming licenses to limited partnerships is:
(a)
To maintain effective control over the conduct of gaming by limited partnership licensees.
(b)
To restrain any speculative promotion of limited partnership interests in gaming enterprises.
(2)
The commission may waive, either selectively or by general regulation, one or more of the requirements of Sections
75-76-221
through
75-76-231
if it makes a written finding that a waiver is consistent with the state policy set forth in this chapter.
Laws, 1990 Ex Sess, ch. 45, § 111, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-221 - Eligibility requirements for limited partnerships

In order to be eligible to receive a state gaming license, a limited partnership shall:
(a)
Be formed under the laws of this state;
(b)
Maintain an office of the limited partnership on the licensed premises;
(c)
Comply with all of the requirements of the laws of this state pertaining to limited partnerships; and
(d)
Maintain a ledger in the principal office of the limited partnership in this state which must:
(i)
At all times reflect the ownership of all interests in the limited partnership; and
(ii)
Be available for inspection by the commission or the executive director or his employees at all reasonable times without notice.
Laws, 1990 Ex Sess, ch. 45, § 112, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-223 - Approval of commission required for any disposition of any interest in licensed limited partnerships; finding of unsuitability of individual to hold interest; effect of finding of unsuitability; certificate of limited partnership to bear statement of restrictions

(1)
The sale, assignment, transfer, pledge or other disposition of any interest in a limited partnership which holds a state gaming license is ineffective unless approved in advance by the commission.
(2)
If at any time the commission finds that an individual owner of any such interest is unsuitable to hold that interest, the commission shall immediately notify the limited partnership of that fact. The limited partnership shall, within ten (10) days from the date that it receives the notice from the commission, return to the unsuitable owner, in cash, the amount of his capital account as reflected on the books of the partnership.
(3)
Beginning on the date when the commission serves notice upon the limited partnership of a determination of unsuitability pursuant to subsection (2), it is unlawful for the unsuitable owner:
(a)
To receive any share of the profits or interest upon any limited partnership interest;
(b)
To exercise, directly or through any trustee or nominee, any voting right conferred by such interest; or
(c)
To receive any remuneration in any form from the limited partnership, for services rendered or otherwise.
(4)
The certificate of limited partnership of any limited partnership holding a state gaming license must contain a statement of the restrictions imposed by this section.
Laws, 1990 Ex Sess, ch. 45, § 113, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-225 - Information required of limited partnership applying for gaming license

A limited partnership which applies for a state gaming license shall register as a limited partnership with the commission and shall provide the following information to the executive director:
(a)
The organization, financial structure and nature of the business to be operated, including the names, personal history and fingerprints of all general partners and key employees, and the name, address and interest of each limited partner.
(b)
The rights, privileges and relative priorities of limited partners as to the return of contributions to capital, and the right to receive income.
(c)
The terms on which limited partnership interests are to be offered.
(d)
The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges or any other indebtedness or security device.
(e)
The extent of the holding in the limited partnership of all underwriters, and their remuneration as compensation for services, in the form of salary, wages, fees or otherwise.
(f)
Remuneration to persons other than general partners exceeding Thirty Thousand Dollars ($30,000.00) per annum.
(g)
Bonus and profit sharing arrangements.
(h)
Management and service contracts.
(i)
Options existing, or to be created.
(j)
Balance sheets for at least the three (3) preceding fiscal years, or, if the limited partnership has not been in existence for three (3) years, balance sheets from the time of its formation. All balance sheets must be certified by independent public accountants certified or registered in this state.
(k)
Profit and loss statements for at least the three (3) preceding fiscal years, or, if the limited partnership has not been in existence for three (3) years, profit and loss statements from the time of its formation. All profit and loss statements must be certified by independent public accountants certified or registered in this state.
(l)
Any further financial data which the executive director or the commission may deem necessary or appropriate for the protection of the State of Mississippi or licensed gambling, or both.
Laws, 1990 Ex Sess, ch. 45, § 114, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-227 - Partners of limited partnership required to be licensed; other persons required to be licensed

Every general partner and limited partner of a limited partnership which holds or applies for a state gaming license must be licensed individually, according to the provisions of this chapter; and if, in the judgment of the commission, the public interest will be served by requiring any or all of the limited partnership's lenders, holders of evidence of indebtedness, underwriters, key executives, agents or employees to be licensed, the limited partnership shall require those persons to apply for a license in accordance with the laws and requirements in effect at the time the commission requires the licensing. Publicly traded corporations which are limited partners of limited partnerships are not required to be licensed but shall comply with this chapter. A person who is required to be licensed as a general or limited partner shall not receive that position until he secures the required approval of the commission. A person who is required to be licensed pursuant to a decision of the commission shall apply for a license within thirty (30) days after the executive director requests him to do so.
Laws, 1990 Ex Sess, ch. 45, § 115, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-229 - Report of changes in limited partnership key executives; furnishing annual profit and loss statement, balance sheet and federal income tax return

(1)
After licensing pursuant to this chapter, the limited partnership shall:
(a)
Report to the commission and the executive director in writing any change in personnel who have been designated by the commission as key executives.
(b)
Furnish the executive director an annual profit and loss statement and an annual balance sheet.
(2)
The commission or the executive director may require that any limited partnership furnish the commission or the executive director with a copy of its federal income tax return within thirty (30) days after the return is filed with the federal government.
Laws, 1990 Ex Sess, ch. 45, § 116, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-231 - Failure of employee of limited partnership to obtain or retain license; notice of new employee replacing terminating employee

(1)
If an employee of a limited partnership licensee who is required to be licensed individually:
(a)
Does not apply for a license within thirty (30) days after the executive director requests him to do so, and the commission makes a finding of unsuitability for that reason; or
(b)
Is denied a license; or
(c)
Has his license revoked by the commission, the limited partnership gaming licensee by whom he is employed shall terminate his employment upon notification by registered or certified mail to the limited partnership of that action.
(2)
If the limited partnership licensee designates another employee to replace the employee whose employment was terminated, it shall promptly notify the commission or the executive director and cause the newly designated employee to apply for a gaming license.
Laws, 1990 Ex Sess, ch. 45, § 117, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-233 - Holding companies and intermediary companies; application of sections 75-76-235 through 75-76-241

Sections
75-76-235
through
75-76-241
, inclusive, apply to every holding company or intermediary company except a publicly traded corporation which has been exempted from the operation of all or some of the provisions of such sections.
Laws, 1990 Ex Sess, ch. 45, § 118, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-237 - Officers, directors, etc. of holding company or intermediary company required to be found suitable; licensing requirements; failure to obtain or maintain suitability finding or license

(1)
Each officer, employee, director, partner, principal, trustee or direct or beneficial owner of any interest in any holding company or intermediary company who the commission determines is or is to become engaged in the administration or supervision of, or any other significant involvement with, the activities of a corporate licensee, must be found suitable therefor and may be required to be licensed by the commission.
(2)
If any officer, employee, director, partner, principal, trustee or direct or beneficial owner required to be found suitable pursuant to subsection (1) fails to apply for a finding of suitability or a gaming license within thirty (30) days after being requested so to do by the executive director, is not found suitable or is denied a license by the commission, or if his license or the finding of his suitability is revoked after appropriate findings by the commission, the holding company or intermediary company, or both, shall immediately remove that person from any position in the administration or supervision of, or any other significant involvement with, the activities of the corporate licensee. If the commission suspends the suitability or license of any officer, employee, director, partner, principal, trustee or owner, the holding company or intermediary company, or both, shall, immediately and for the duration of the suspension, suspend him from performing any duties in administration or supervision of the activities of the corporate licensee and from any other significant involvement therewith.
Laws, 1990 Ex Sess, ch. 45, § 120, eff. 6/29/1990.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 76 - MISSISSIPPI GAMING CONTROL ACT (§§ 75-76-1 — 75-76-325) › ISSUANCE OF GAMING LICENSES TO CORPORATIONS, LIMITED PARTNERSHIPS, HOLDING COMPANIES, INTERMEDIARY COMPANIES AND PUBLICLY TRADED CORPORATIONS (§§ 75-76-199 — 75-76-265) › Section 75-76-239 - Information required of holding company and intermediary company

If the corporation applying for or holding a license is or becomes a subsidiary, each holding company and intermediary company shall furnish the executive director the following information:
(a)
The organization, financial structure and nature of the business it operates.
(b)
The terms, position, rights and privileges of the different classes of securities outstanding.
(c)
The terms on which its securities are to be, and during the preceding three (3) years have been, offered to the public or otherwise.
(d)
The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges, or any other indebtedness or security device pertaining to the corporate gaming licensee.
(e)
The extent of the security holding or other interest in the holding company or intermediary company of all officers, employees, directors, underwriters, partners, principals, trustees or any direct or beneficial owner, and any remuneration as compensation for their services, in the form of salary, wages, fees, or by contract, pertaining to the corporate gaming licensee.
(f)
Remuneration to others than directors and officers exceeding Forty Thousand Dollars ($40,000.00) per annum.
(g)
Bonus and profit sharing arrangements.
(h)
Management and service contracts.
(i)
Options existing or to be created in respect of their securities or other interests.
(j)
Balance sheets, certified by independent certified public accountants, for not more than the three (3) preceding fiscal years or, if the holding company or intermediary company has not been in existence more than three (3) years, balance sheets from the time of its establishment.
(k)
Profit and loss statements, certified by independent certified public accountants, for not more than the three (3) preceding fiscal years, or, if the holding company or intermediary company has not been in existence more than three (3) years, profit and loss statements from the time of its establishment.
(l)
Any further financial statements which the executive director or the commission may deem necessary or appropriate for the protection of the State of Mississippi, licensed gambling, or both.
(m)
An annual profit and loss statement and annual balance sheet, and a copy of its annual federal income tax return within thirty (30) days after such return is filed with the federal government.
Laws, 1990 Ex Sess, ch. 45, § 121, eff. 6/29/1990.