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 179-4-41 - Supplier's License Application

Current through Register Vol. XLI, No. 28, July 12, 2024
41.1. To qualify for a supplier license, an
				  applicant shall meet the requirements of this rule. Each applicant who is an
				  individual who is a controlling person of an applicant that is not an
				  individual 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 gaming facility supplier. The Commission may adopt rules
				  establishing additional requirements for a gaming facility supplier.
41.2. An applicant for a license to supply
				  gaming devices, equipment and supplies to a gaming facility shall demonstrate
				  that the gaming devices, equipment and supplies that the applicant plans to
				  sell or lease to the licensed operator of the gaming facility, conform or will
				  conform to standards established by rules of the Commission and applicable
				  state law.
41.3. A person applying
				  for a supplier's license and any person required to be qualified as part of the
				  application shall complete and submit 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
				  and shall contain all information prescribed and required by the
				  Commission.
41.4. Application
				  procedures for a supplier's license are as follows:
41.4.a. The Commission shall use reasonable
				  efforts to avoid unnecessary publicity concerning information included in the
				  applications and other documents that are or could reasonably be considered
				  sensitive. However, 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.
41.4.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.
41.4.c. Upon application, an applicant shall
				  also consent, in writing, under oath, to being subject to the inspections,
				  investigations, audits, searches, and seizures for the duration of the
				  supplier's license for which application is made, if the license is
				  issued.
41.4.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 supplier's license under the Act and this
				  rule.
41.4.e. The Commission shall
				  use the information provided in the prescribed application and disclosure form
				  as a basis for an appropriate background investigation, which the Commission
				  shall conduct on each applicant, and 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.
41.4.f.
				  A person applying for a supplier license shall provide the name, address, and
				  telephone number of a representative to act as a liaison to the Commission and
				  West Virginia Lottery Security background investigators, and shall facilitate,
				  assist, and cooperate with the Commission and West Virginia Lottery Security in
				  their conduct of background investigations under the Act and this
				  rule.
41.4.g. The Commission shall
				  not issue a supplier'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.
41.4.h. An applicant shall file all required
				  application forms before the expiration of deadlines established and published
				  by the Commission.
41.4.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.
41.4.j. A person applying for a supplier
				  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:
41.4.j.1. The applicant's key persons or the
				  key persons of any holding company or affiliate that has control of the
				  applicant;
41.4.j.2. The type of
				  business organization or entity;
41.4.j.3. A holding company or
				  affiliate;
41.4.j.4. A change of
				  more than a 5% in the capitalization or a 1% change in the debt-to-equity
				  ratio;
41.4.j.5. The investors or
				  debt holders, or both; or
41.4.j.6.
				  A source of funds.
41.4.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 ).
41.4.l. A supplier'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 supplier license.
41.4.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.