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 179-4-57 - License Required to Provide Management Services; Standards and Criteria; Commission Action; Denied License; Reapplication; Renewal

Current through Register Vol. XLI, No. 28, July 12, 2024
57.1. When a person that is not a natural
				  person will provide the limited gaming facility licensee with substantial
				  management services, such as managing the day-to-day operation of authorized
				  games of chance or all casino games, the person shall hold a management
				  services provider license.
57.2. To
				  qualify for a license, the applicant shall meet the requirements of this rule.
				  Each controlling natural person of an applicant shall be of good moral
				  character and reputation, and shall have the necessary experience and financial
				  ability to successfully carry out the functions of a management services
				  provider.
57.3. A person applying
				  for a management service provider's license and a person required to be
				  qualified as part of the application shall complete and submit the application
				  and disclosure forms in the manner and form prescribed by the Commission. The
				  application and disclosure forms shall be made under oath on prescribed forms
				  provided by the Commission.
57.4.
				  The application procedures for a management services provider's license are as
				  follows:
57.4.a. Upon application, an
				  applicant shall assume and accept, in writing, under oath, all risk of adverse
				  publicity, notoriety, embarrassment, criticism, financial loss, or other
				  unfavorable or harmful consequences that may occur in connection with the
				  application process or the public disclosure of information submitted with the
				  application;
57.4.b. Upon
				  application, an applicant shall also expressly waive and give up, in writing,
				  under oath, all claims for damages that may result from the application and
				  licensing process;
57.4.c. Upon
				  application, an applicant shall also consent, in writing, under oath, to being
				  subject to inspections, investigations, audits, searches, and seizures for the
				  duration of the management service provider's license for which application is
				  made, if the license is issued;
57.4.d. Upon application, an applicant shall
				  also authorize and consent, in writing, under oath, to release and disclose to
				  the Commission and its authorized representatives and agents all otherwise
				  confidential records of the applicant that the Commission requests from the
				  applicant or from third parties, including, without limitation, tax records and
				  financial records held by a federal, state, or local governmental agency, a
				  credit bureau, or a financial institution while applying for, or while holding,
				  a management services provider's license under the Act and this rule;
57.4.e. The Commission shall use the
				  information provided in the prescribed application and disclosure form as a
				  basis for an appropriate background investigation for evaluating and
				  determining the eligibility, qualifications, and suitability of the applicant
				  to receive the license for which application is made. The Commission shall make
				  the evaluation and determination under the licensing standards and criteria
				  provided in the Act and rules of the Commission. A misrepresentation or
				  omission in the application is cause for denial, suspension, restriction, or
				  revocation of a license by the Commission;
57.4.f. A person applying for a management
				  services provider's license shall provide the name, address, and telephone
				  number of a representative to act as a liaison to the Commission's background
				  investigators, and shall facilitate, assist, and cooperate with the Commission
				  in its conduct of background investigations under the Act and this
				  rule;
57.4.g. The Commission shall
				  not issue a management services provider's license or renewal license unless
				  the person applying for the license, and each person required to be qualified
				  as part of the application for issuance or renewal of the license, has
				  completed and filed with the Commission all required applications, license
				  renewal reports and disclosure forms in the manner and form prescribed by the
				  Commission, has provided all information, documentation, assurances, waivers,
				  and releases, and has paid the fees required by the Act and this
				  rule;
57.4.h. An applicant shall
				  file all required application forms before the expiration of deadlines
				  established and published by the Commission;
57.4.i. An applicant is under a continuing
				  duty to disclose any material changes in the information or documentation
				  provided in or with the application, renewal, and disclosure forms submitted to
				  the Commission;
57.4.j. A person
				  applying for a management services provider's license shall request amendment
				  of its application when it knows, or should have known, that there has been a
				  change in any of the following:
57.4.j.1. The
				  applicant's key persons or the key persons of any holding company or affiliate
				  that has control of the applicant;
57.4.j.2. The type of business organization
				  or entity;
57.4.j.3. A holding
				  company or affiliate;
57.4.j.4. The
				  investors or debt holders, or both; or
57.4.j.5. A source of funds.
57.4.k. A publicly traded
				  corporation shall be considered to have complied with this rule if it has
				  complied with the reporting requirements provided by section twelve of the
				  Securities and Exchange Act of 1934, as amended ( 15 U.S.C. §78
				  );
57.4.l. A management services
				  provider's license application may be withdrawn upon written notice to the
				  Commission before Commission action on the application if all background
				  investigation costs of the Commission have been paid in full by the person
				  applying for a management services provider's license; and
57.4.m. The Commission may allow information,
				  documents, or other materials submitted by an applicant in a withdrawn
				  application to be incorporated by reference into a subsequent
				  application;