West Virginia Code of State Rules › Agency 179 - Lottery Commission › Title 179 - LEGISLATIVE RULE WEST VIRGINIA LOTTERY › Series 179-04 - Limited Gaming Facility Rules › Part 3 - LICENSES › Section 179-4-45 - Annual License Renewal Fee; Report

Current through Register Vol. XLI, No. 28, July 12, 2024
45.1. Each year, a licensed gaming facility
				  supplier shall pay to the Commission an annual license renewal fee of one
				  hundred dollars.
45.2. Prior to
				  annual renewal, the licensee shall file a written report with the Commission
				  containing the following information:
45.2.a.
				  If the licensee is a publicly traded corporation regulated by the Securities
				  and Exchange Commission, a current list, to the extent known by the licensee at
				  the time of submitting the report, of all key persons, affiliates and
				  affiliated companies, the key persons of any person that has control of the
				  licensee, and the identity of all other persons required to be qualified as
				  part of the licensee's request for renewal of the license under the Act and
				  this rule;
45.2.b. If the licensee
				  is not a publicly traded corporation regulated by the Securities and Exchange
				  Commission, a current list, to the extent known by the licensee at the time of
				  submitting the report, of all key persons, affiliates and affiliated companies
				  of the licensee, the key persons of any persons that have control of the
				  licensee, and all other persons, other than publicly traded corporations and
				  their 5% or less shareholders, that have more than a 1% direct, indirect, or
				  attributed pecuniary or equity interest in the licensee;
45.2.c. To the extent that information has
				  changed or has not been previously reported to the Commission, updated
				  personal, business, and financial information, required by the Commission,
				  related to the eligibility, suitability, and general fitness of the licensee
				  under the Act and this rule to continue to hold the license for which renewal
				  is requested. The information shall include, without limitation, changes
				  regarding the identification, integrity, moral character, reputation, and
				  relevant business experience, ability and probity, and financial experience,
				  ability, and responsibility of the licensee and each of the persons required to
				  be qualified for renewal of the license under the Act and this rule;
45.2.d. A statement under oath by the
				  licensee's managing officer or director that the information provided in the
				  licensee's annual renewal report is current, complete, true, and accurate, and
				  that the licensee has fulfilled its obligation under the Act and this rule to
				  notify the Commission of any change in information provided in its original
				  license application and subsequent annual license renewal reports previously
				  filed with the Commission;
45.2.e.
				  Financial statements and reports regarding the current capital structure and
				  financial condition of the licensee, prepared by the licensee in the manner and
				  form prescribed by the Commission, indicating the licensee's current financial
				  ability to conduct and maintain its supplier business in a financially
				  responsible manner, in accordance with the requirements of the Act and this
				  rule, and satisfy its financial obligations in accordance with financing
				  agreements and other contractual obligations; and
45.2.f. Other information and documentation
				  that the Commission may require to determine the licensee's eligibility,
				  suitability, and qualification to have its license renewed under the licensing
				  standards of the Act and this rule.