New Mexico Administrative Code › Title 15 - GAMBLING AND LIQUOR CONTROL › Chapter 1 - GAMES AND GAMING GENERAL PROVISIONS › Part 5 - APPLICATION FOR LICENSURE UNDER THE GAMING CONTROL ACT › Section 15.1.5.16 - APPLICATION FOR FINDING OF SUITABILITY; CERTIFICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The public interest requires that all key
				executives of an applicant or licensee obtain findings of
				suitability.
B. Pursuant to the
				act, this rule constitutes a request and requirement by the board that each key
				executive employed by a licensee shall submit an application of finding of
				suitability within 30 days of the first day of employment as a key executive.
				The licensee shall send a facsimile or e-mail notice to the board no later than
				96 hours after the first day of employment listing the date of employment,
				name, and title of position of the key executive.
C. The following persons are, or may be,
				subject to that requirement:
(1) any person
				who furnishes services or property to a gaming operator licensee under an
				agreement pursuant to which the person receives compensation based on earnings,
				profits or receipts from gaming;
(2) any person who does business on the
				gaming establishment;
(3) any
				person who provides goods or services to a gaming operator licensee for
				compensation that the board finds grossly disproportionate to the value of the
				goods or services;
(4) an officer,
				director, equity security holder of five percent or more, partner, general
				partner, limited partner, trustee or beneficiary of a company licensee or
				company applicant;
(5) the key
				executives of a company licensee or company applicant;
(6) if the applicant or licensee is or will
				be a subsidiary, the holder of five percent or more of the equity security of a
				holding company or intermediary company that is not a publicly traded
				corporation;
(7) an officer,
				director, or key executive of a holding company, intermediary company or
				publicly traded corporation that is or is to become actively and directly
				engaged in the administration or supervision of, or any other significant
				involvement with, the activities of a subsidiary licensee or
				applicant;
(8) each person who,
				individually or with others, acquires, directly or indirectly, beneficial
				ownership of five percent or more of any voting securities in a publicly traded
				corporation registered with the board if the board determines that the
				acquisition would otherwise be inconsistent with the policy of the
				state;
(9) each person who,
				individually or with others, acquires, directly or indirectly, beneficial
				ownership of ten percent or more of any class of voting securities in a
				publicly traded corporation certified by the board;
(10) the following members of a nonprofit
				organization gaming operator applicant or licensee:
(a) the president or commander if the
				president or commander will have the power to exercise significant influence
				over decisions concerning any part of the licensed operations of the licensee
				or will be directly involved in the gaming activities of the
				licensee;
(b) officers with
				check-writing authority or other financial responsibility;
(c) board members;
(d) key executives, such as the gaming
				manager and the officers, employees, volunteers and other persons designated by
				the nonprofit organization as key executives; and
(e) any person who has access to the internal
				structure or software of any gaming machine or associated equipment;
(11) the person with primary
				ownership interest in or managerial responsibility for an applicant for a
				limited use distributor's license, provided, however, that the board may
				provide for an expedited application process for such an applicant;
				and
(12) any other person as deemed
				necessary by the board to protect the public health, safety, morals and general
				welfare.