Additional slot machine license requirements - 4 Pa. Cons. Stat. § 1311

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     § 1311.  Additional slot machine license requirements.
        (a)  Additional eligibility requirements.--In order to be
     eligible for a slot machine license under this part, the
     principals and key employees of the applicant shall obtain a
     license to meet the character requirements of section 1310
     (relating to slot machine license application character
     requirements) or other eligibility requirements established by
     the board.
        (b)  Classification system.--The board shall develop a
     classification system for other agents, employees or persons who
     directly or indirectly hold or are deemed to be holding debt or
     equity securities or other financial interest in the applicant
     and for other persons which the board considers appropriate for
     review under section 1310.
        (c)  Related entities.--
            (1)  Except as provided in paragraph (2), no person shall
        be eligible to receive a slot machine license unless the
        principals and key employees of each intermediary, subsidiary
        or holding company of the person meet the requirements of
        subsection (a).
            (2)  The board may require that lenders and underwriters
        of intermediaries, subsidiaries or holding companies of a
        slot machine license applicant meet the requirements of
        subsection (a) if the board determines that the suitability
        of a lender or underwriter is at issue and is necessary to
        consider a pending application for a slot machine license.
        (d)  Revocable privilege.--The issuance or renewal of a
     license, permit or other authorization by the board under this
     section shall be a revocable privilege.
        (e)  Waiver for publicly traded corporations.--The board may
     waive the requirements of subsection (a) for a person directly
     or indirectly holding ownership of securities in a publicly
     traded corporation if the board determines that the holder of
     the securities is not significantly involved in the activities
     of the corporation and does not have the ability to control the
     corporation or elect one or more directors thereof.
        (f)  Waiver for subsidiaries.--If the applicant is a
     subsidiary, the board may waive the requirements of subsection
     (a) for a holding company or intermediary as follows:
            (1)  If the applicant is a publicly traded corporation,
        the board may issue a waiver under this subsection if it
        determines that the principal or key employee does not have
        the ability to control, have a controlling interest in or
        elect one or more directors of the holding company or
        intermediary and is not actively involved in the activities
        of the applicant.
            (2)  If the applicant is a noncorporate organization, the
        board may issue a waiver under this subsection for a person
        who directly or indirectly holds a beneficial or ownership
        interest in the applicant if it determines that the person
        does not have the ability to control the applicant.
        (g)  Ongoing duty.--A person applying for a license, permit
     or other authorization under this part shall have the continuing
     duty to provide information required by the board or the bureau
     and to cooperate in any inquiry or investigation.
        (h)  Criminal history record check.--The board shall conduct
     a criminal history record check on any person for whom a waiver
     is granted under this section.
     (Nov. 1, 2006, P.L.1243, No.135, eff. imd.)

Last modified: November 27, 2007