R 432.1315
R 432.1315 Notification of new financial sources required.
Cite as Mich. Admin. Code R 432.1315
Rule 315. A person that applies for or holds a casino license or any holding
company, affiliate, or person that has control of a person that applies for or holds a
casino license shall notify the board, in writing, as soon as practicable, after it becomes
aware that it intends to enter into a transaction related in any way to the development
and operation of the Michigan casino and related casino enterprises that may result in
any new financial backers, investors, mortgages, bondholders, or holders of
indentures, notes, or other evidences of indebtedness of the applicant or licensee. A
publicly traded corporation shall be considered to have complied with this rule if it has
complied with the reporting requirements in R 432.1406.