Sec. 26.
For purposes of sections 5, 6, and 7a, the ownership and disclosure threshold as to any company whose stock is widely held, publicly traded, and regulated by the securities and exchange commission shall be beneficial ownership of more than a 5% interest in the company, provided, however, the board shall have the authority, by rule or order, to establish a reporting threshold below 5% if the company knew or should have known the identity of the person holding the interest below 5%.
History: Add. 1997, Act 69, Imd. Eff. July 17, 1997 Popular Name: Proposal E
Structure Michigan Compiled Laws
Initiated Law 1 of 1996 - Michigan Gaming Control and Revenue Act (432.201 - 432.226)
Section 432.201 - Short Title.
Section 432.202 - Definitions.
Section 432.203 - Casino Gaming Authorized.
Section 432.204 - Michigan Gaming Control Board; Creation; Membership; Duties.
Section 432.204a - Michigan Gaming Control Board; Jurisdiction; Powers.
Section 432.204b - Appropriation; Reimbursement; Credit Against Annual Assessment.
Section 432.204c - Disclosure of Information.
Section 432.204d - Member, Employee, or Agent of Board; Conduct Generally.
Section 432.205 - Application for Casino License.
Section 432.206 - Issuance of Casino Licenses; Eligibility; Limitations.
Section 432.206a - Application Deficiency.
Section 432.206b - Operation of Occupational License Training School.
Section 432.206c - Institutional Investor.
Section 432.207 - Repealed. 1997, Act 69, Imd. Eff. July 17, 1997.
Section 432.207a - Supplier's License.
Section 432.207b - Repealed. 2019, Act 158, Imd. Eff. Dec. 20, 2019.
Section 432.207c - Local Labor Organizations; Requirements.
Section 432.208 - Occupational Licenses.
Section 432.208a - Repealed. 2019, Act 158, Imd. Eff. Dec. 20, 2019.
Section 432.208b - Background Check on Prospective Employee.
Section 432.209 - Conduct of Gaming.
Section 432.209a - Electronic Funds Transfer Terminal.
Section 432.209b - Televised Simulcast Horse Races.
Section 432.209c - Toll-Free Compulsive Gaming Helpline Number; Posting.
Section 432.209d - Acceptance of Lien Prohibited.
Section 432.210 - Repealed. 2019, Act 158, Imd. Eff. Dec. 20, 2019.
Section 432.211 - Collection of Amounts Under Credit Agreements.
Section 432.213 - Municipal Services Fee.
Section 432.213a - Imposition of Other Taxes.
Section 432.214 - Audit of License Operations.
Section 432.215 - Annual Report of Board; Annual Study of Licensee; “Minor” Defined.
Section 432.216 - Repealed. 1997, Act 69, Imd. Eff. July 17, 1997.
Section 432.217 - Contested Cases; Appeals.
Section 432.219 - Property Subject to Seizure, Confiscation, Destruction, or Forfeiture.
Section 432.220 - Conduct Subject to Civil Penalty.
Section 432.221 - Criminal History Record Check; Fingerprinting.
Section 432.222 - Exemption From Federal Law.
Section 432.223 - Shipment of Gambling Devices.
Section 432.224 - Conservatorship.