A. Each officer, director and key executive of a holding company, intermediary company or publicly traded corporation who the board determines is or is to become actively and directly engaged in the administration or supervision of, or in any other significant involvement with, the activities of the subsidiary licensee or applicant shall apply for a finding of suitability.
B. If any officer, director or key executive of a holding company, intermediary company or publicly traded corporation required to be found suitable pursuant to Subsection A of this section fails to apply for a finding of suitability within thirty days after being requested to do so by the board, or is not found suitable by the board, or if his finding of suitability is revoked after appropriate findings by the board, the holding company, intermediary company or publicly traded corporation shall immediately remove that officer, director or key executive from any office or position in which the person is engaged in the administration or supervision of, or any other involvement with, the activities of the certified subsidiary until the person is thereafter found to be suitable. If the board suspends the finding of suitability of any officer, director or key executive, the holding company, intermediary company or publicly traded corporation shall immediately and for the duration of the suspension suspend that officer, director or key executive from performance of any duties in which he is actively and directly engaged in the administration or supervision of, or any other involvement with, the activities of the subsidiary licensee.
History: Laws 1997, ch. 190, § 25; 1999, ch. 251, § 4; 2002, ch. 102, § 11.
The 2002 amendment, effective March 5, 2002, substituted "who" for "that" in Subsection A.
The 1999 amendment, effective June 18, 1999, purported to amend this section but made no change.
Structure New Mexico Statutes
Chapter 60 - Business Licenses
Section 60-2E-1 - Short title.
Section 60-2E-3 - Definitions.
Section 60-2E-4 - Limited gaming activity permitted.
Section 60-2E-5 - Gaming control board created.
Section 60-2E-6 - Board; meetings; quorum; records.
Section 60-2E-7 - Board's powers and duties.
Section 60-2E-8 - Board regulations; discretionary regulations; procedure; required provisions.
Section 60-2E-9 - Executive director; employment; qualifications.
Section 60-2E-10 - Executive director; powers; duties.
Section 60-2E-11 - Investigation of executive director candidates and employees.
Section 60-2E-12 - Conflicts of interest; board; executive director; employees.
Section 60-2E-13 - Activities requiring licensing.
Section 60-2E-13.1 - Temporary possession of gaming device for limited purpose.
Section 60-2E-14 - Licensure; application.
Section 60-2E-15 - License, certification and work permit fees.
Section 60-2E-16 - Action by board on applications.
Section 60-2E-17 - Investigation for licenses, certifications and permits.
Section 60-2E-18 - Eligibility requirements for companies.
Section 60-2E-19 - Company applicants; nonprofit organization applicants; required information.
Section 60-2E-22 - Change in company ownership.
Section 60-2E-30 - Licensing of distributors of gaming devices.
Section 60-2E-33 - Emergency orders of board.
Section 60-2E-34.1 - Self-exclusion from gaming establishments; procedure; fines; confidentiality.
Section 60-2E-35 - Internal control systems.
Section 60-2E-36 - Gaming employees; issuance of work permits; revocation of work permits.
Section 60-2E-37 - Age requirement for patrons and gaming employees.
Section 60-2E-38 - Calculation of net take; certain expenses not deductible.
Section 60-2E-39 - Limitations on taxes and license fees.
Section 60-2E-40 - Use of chips, tokens or legal tender required for all gaming.
Section 60-2E-42 - Motion for release of confidential information.
Section 60-2E-43 - Gaming machine central system.
Section 60-2E-44 - Machine specifications.
Section 60-2E-46 - Examination of gaming devices; cost allocation.
Section 60-2E-47 - Gaming tax; imposition; administration.
Section 60-2E-47.1 - Repealed.
Section 60-2E-48 - Civil actions to restrain violations of Gaming Control Act.
Section 60-2E-49 - Testimonial immunity.
Section 60-2E-50 - Crime; manipulation of gaming device with intent to cheat.
Section 60-2E-52 - Crime; cheating.
Section 60-2E-54 - Crime; reporting and record violations; penalty.
Section 60-2E-56 - Underage gaming; penalty for permitting or participation.
Section 60-2E-57 - Crime; general penalties for violation of act.
Section 60-2E-59 - Administrative appeal of board action.
Section 60-2E-60 - Judicial review of administrative actions.
Section 60-2E-62 - Crime; unlawful possession of gaming device.