Virginia Administrative Code › Title 11 - GAMING › Agency 10 - VIRGINIA RACING COMMISSION › Chapter 20 - REGULATIONS PERTAINING TO HORSE RACING WITH PARI-MUTUEL WAGERING › Part II - Licensure › Section 11VAC10-20-40 - Disclosure of ownership and control

Current through Register Vol. 40, No. 24, July 15, 2024
An applicant must disclose:
1. The type of organizational structure of
				  the applicant, whether individual, business corporation, nonprofit corporation,
				  partnership, joint venture, trust, association, or other;
2. If the applicant is an individual, the
				  applicant's legal name, whether the applicant is a United States citizen, any
				  aliases and business or trade names currently or previously used by the
				  applicant, and copies of all state and federal tax returns for the past five
				  years;
3. If the applicant is a
				  corporation:
a. The applicant's full corporate
				  name and any trade names currently or previously used by the
				  applicant;
b. The jurisdiction and
				  date of incorporation;
c. The date
				  the applicant began doing business in Virginia and a copy of the applicant's
				  certificate of authority to do business in Virginia;
d. Copies of the applicant's articles of
				  incorporation, bylaws, and all state and federal corporate tax returns for the
				  past five years;
e. The general
				  nature of the applicant's business;
f. Whether the applicant is publicly held as
				  defined by the rules and regulations of the Securities and Exchange
				  Commission;
g. The classes of stock
				  of the applicant. As to each class, the number of shares authorized, number of
				  shares subscribed to, number issued, number outstanding, par value per share,
				  issue price, current market price, number of shareholders, terms, position,
				  rights, and privileges must be disclosed;
h. Whether the applicant has any other
				  obligations or securities authorized or outstanding which bear voting rights
				  either absolutely or upon any contingency, the nature thereof, face or par
				  value, number of units authorized, number outstanding, and conditions under
				  which they may be voted;
i. The
				  names, in alphabetical order, and addresses of the directors and, in a separate
				  list, officers of the applicant. The number of shares held of record directly
				  or indirectly by each director and officer as of the application date of each
				  class of stock, including stock options and subscriptions, and units held of
				  record or beneficially of other obligations or securities which bear voting
				  rights must be disclosed;
j. The
				  names, in alphabetical order, and addresses of each recordholder as of the date
				  of application or beneficial owner of shares, including stock options and
				  subscriptions, of the applicant or units of other obligations or securities
				  which bear voting rights. As to each holder of shares or units, the number and
				  class or type of shares or units shall be disclosed;
k. Whether the requirements of the Securities
				  Act of 1933 and Securities and Exchange Act of 1934, as amended, and Securities
				  and Exchange Commission rules and regulations have been met in connection with
				  issuance of applicant's securities, and copies of the most recent registration
				  statement and annual report filed with the Securities and Exchange
				  Commission;
l. Whether the
				  securities registration and filing requirements of the applicant's jurisdiction
				  of incorporation have been met, and a copy of the most recent registration
				  statement filed with the securities regulator in that jurisdiction;
				  and
m. Whether the securities
				  registration and filing requirements of the Commonwealth of Virginia have been
				  met. If they have not, the applicant must disclose the reasons why. The
				  applicant must provide copies of all securities filings with Virginia's State
				  Corporation Commission during the past five years.