Restriction On Reapplication

Any applicant whose application has been denied or whose license has been permanently suspended, revoked, or subjected to other limiting action in any jurisdiction shall not reapply for licensing or approval by the board at any time. [15.1.5.27 NMAC - Rp, 15.1.5.25 NMAC, 6/30/2016] 15.1.5.28 CHANGE IN NUMBER OF GAMING MACHINES; APPLICATION TO AMEND GAMING OPERATOR LICENSE: A gaming operator licensee shall not increase the number of gaming machines on, or remove a gaming machine from, the licensed premises without prior written approval from the board. A. If the requested change is an increase in the number of gaming machines on the licensed premises, the applicant shall also submit, in accordance with this rule and with 15.1.18 NMAC, an application for gaming machine license or a registration form for each additional machine. The licensee also shall submit a detailed diagram of the licensed premises showing the proposed location of all gaming machines. B. If the requested change is a reduction in the number of machines due to the sale, transfer or disposal of one or more machines, the applicant shall ensure that such sale, transfer, or disposal is made in accordance with the procedures set forth in 15.1.16 NMAC. [15.1.5.28 NMAC - Rp, 15.1.5.26 NMAC, 6/30/2016] 15.1.5.29 REGISTRATION OF NONPUBLICLY TRADED HOLDING AND INTERMEDIARY COMPANIES: A. If a company applicant or company licensee is or becomes a subsidiary, each non-publicly traded holding company or intermediary company with respect to the subsidiary company shall: (1) qualify to do business in the state of New Mexico; and (2) register with the board. B. Registration shall be accomplished by notifying the board in writing of the registrant's status as a nonpublicly traded holding or intermediary company, specifically identifying the company applicant or licensee that is the registrant's subsidiary and specifically describing the relationship between the registrant and the company applicant or licensee, and providing to the board all information required by Paragraph (2) of Subsection A of Section 60-2E-21 of the act. C. If at any time the board finds that any person owning, controlling or holding with power to vote all or any part of any class of securities of, or any interest in, any holding company or intermediary company is unsuitable to be connected with a licensee, it shall so notify both the unsuitable person and the holding company or intermediary company. The unsuitable person shall immediately offer the securities or other interest to the issuing company for purchase. The company shall purchase the securities or interest offered upon the terms and within the time period ordered by the board. D. Beginning on the date when the board serves notice that a person has been found to be unsuitable pursuant to Subsection C of 15.1.5.29 NMAC, it is unlawful for the unsuitable person to: (1) receive any dividend or interest upon any securities held in the holding company or intermediary company, or any dividend, payment or distribution of any kind from the holding company or intermediary company; (2) exercise, directly or indirectly or through a proxy, trustee or nominee, any voting right conferred by the securities or interest; or (3) receive remuneration in any form from the licensee, or from any holding company or intermediary company with respect to that licensee, for services rendered or otherwise. E. A holding company or intermediary company subject to the provisions of Subsection A of 15.1.5.29 NMAC shall not make any public offering of any of its equity securities unless such public offering has been approved by the board. 15.1.5 NMAC 13 F. This section does not apply to a holding company or intermediary company that is a publicly traded corporation, the stock of which is traded on recognized stock exchanges, which shall instead comply with the provisions of Section 24 of the Gaming Control Act.