Terms, Conditions, and Duties of Conservator

(1) A conservator shall, before assuming, managerial or operational duties, execute and file a bond for the faithful performance of its duties payable to the commission with such surety and in such form and amount as the commission shall approve at the time of appointment. 205 CMR: MASSACHUSETTS GAMING COMMISSION 130.05: continued (2) The terms of compensation shall be fixed by the commission at the time of appointment of the conservator. The terms shall include a requirement that the conservator submit itemized billings for expenses to the commission on a monthly basis, which billings shall be considered by the commission for reasonableness. Payment of compensation and expenses shall be made from the revenues of the gaming establishment. (3) The conservator shall file reports with the commission regarding the management and operation of the gaming establishment in the form and at such intervals as the commission may prescribe at the time of appointment. (4) The conservator shall take possession immediately of all books and records relating to the gaming establishment. (5) The conservator shall be responsible for ensuring that all taxes relating to the gaming establishment are paid in a timely fashion. (6) The conservator shall abide by all licensing provisions, including compliance with host community, surrounding community, and impacted live entertainment venue mitigation agreements, applicable to the former or suspended gaming licensee upon appointment. (7) The conservator may, by approval of the commission, appoint any consultants needed to assist in the operation of the gaming establishment; provided, however, that the commission may require any such consultant to submit the completed forms, undergo the investigation, and receive an appointment as a designated temporary key gaming employee in accordance with 205 CMR 130.02(2) through (4) or to undergo such other investigation into the background, integrity, honesty, character, reputation, financial stability, criminal history and responsibility of the consultant as the commission may require. All costs incurred by the commission and the bureau for conducting an investigation into any such consultant or potential consultant shall be paid from the revenues of the gaming establishment.