Filing And Determination Of Suitability

Filing And Determination Of Suitability. (a) A licensee shall not enter into a contract with a junket representative for services until the junket representative has been investigated and issued a junket representative permit from the Commission. No contract may be entered into between any licensee and junket representative that would exceed the expiration date of the junket representative permit. (b) A filing for junket representative must include the following: 1. The name, address, tax identification number, and type of organization of the junket representative. 2. A copy of any proposed agreement between the licensee and the junket representative. 3. If the junket representative is to guarantee any payment due to a licensee from any preferred guest, a personal financial questionnaire. 4. The designation of persons whom the junket representative may use as a secondary representative. 5. A statement on a form approved by the Commission that the junket representative: i. Submits to the jurisdiction of the State of Mississippi and the Commission; ii. Designates the Secretary of State as its representative upon whom service of process may be made; and Agrees to be governed and bound by the laws of the State of Mississippi and the regulations of the Commission. 6. Such additional information as the Executive Director or Commission may request. In the event the junket representative is not an individual, all officers and principals of the junket representative shall supply the required information. All information required by this section shall be supplied on forms furnished or approved by the Executive Director. (c) An application to receive a junket representative permit shall not be granted unless the Commission is satisfied that the applicant is 1) a person of good character, honesty and integrity; 2) a person whose prior activities, criminal record, if any, reputation, habits and associations do not pose a threat to the public interest of this State or to the effective regulation and control of gaming, or create or enhance the dangers of unsuitable, unfair or illegal practices, methods and activities in the conduct of gaming or the carrying on of the business and financial arrangements incidental thereto; and 3) in all other respects qualified to be permitted consistent with the declared laws of this State. (d) A licensee may only compensate a junket representative that holds a valid junket representative permit from the Commission, provided that the licensee receives written notification from the Executive Director that the junket representative is in good standing with the Commission and has: 1. Submitted a copy of the signed agreement between the licensee and the junket representative and such additional information as the Executive Director or Commission may request; and 2. A current filing with the Executive Director and is in compliance with the requirements of this Chapter. (e) A licensee may not compensate a junket representative on the basis of theoretical or actual win attributed to a preferred guest unless such junket representative holds a junket representative permit issued by the Commission. Such permit qualifications are those imposed on applicants and holders of a work permit. A junket representative permit is valid for a period of three years. Nothing in this section shall prevent the Executive Director from requiring a finding of suitability from the Commission of any junket representative. (f) The Commission may require at any time a finding of suitability of a junket representative. The Commission shall give written notice to the junket representative and any licensee having an agreement with the junket representative on file with the Executive Director that the junket representative will be required to file an application for finding of suitability. The Commission retains jurisdiction to determine the suitability of a junket representative even if the licensee terminates its relationship with the junket representative or the junket representative is otherwise no longer functioning as a junket representative. (g) If the Commission finds a junket representative to be unsuitable, the filing of such junket representative is thereupon canceled. A licensee or junket representative shall, upon written notification of a finding of unsuitability, immediately terminate all relationship, direct or indirect, with such junket representative. Failure to terminate such relationship constitutes reasonable cause for disciplinary action. No determination of suitability of a junket representative shall preclude a later determination by the Commission of unsuitability. (Adopted: 09/25/1991; Amended: 10/22/1998.)