R 432.1104 Definitions; J to L.

Rule 104. As used in these rules: (a) "Key person" means any of the following: (i) A director of an applicant for, or holder of, a casino license or supplier license. (ii) A managerial employee of an applicant for, or holder of, a casino license or supplier license that performs the function of principal executive officer, principal operations officer, or principal accounting officer. (iii) A person that holds more than 5% direct or indirect interest in an applicant for, or holder of, a casino license or supplier license. (iv) A qualifying business of the applicant. (v) A director of a qualifying business of an applicant for, or holder of, a casino or supplier license. (vi) A managerial employee of a qualifying business of an applicant for, or holder of, a casino license or supplier license that performs the function of principal executive officer, principal operations officer, or principal accounting officer. An institutional investor is not a key person unless it has a controlling interest or fails to meet the standards of section 6c(1) of the act, MCL 432.206c, for waiver of eligibility and suitability requirements for qualification and licensure under the act and these rules. (b) "Licensee" means a person who holds a license under the act. (c) "Live game" means a gambling game that does not involve an EGD and is played with a live gaming device. (d) “Live gaming device” means any fully assembled nonelectrical or non- electromechanical apparatus used to gamble on, including, but not limited to, any of the following: (i) Roulette wheel and table. (ii) Blackjack table. (iii) Craps table. (iv) Poker table.