La. Admin. Code tit. 42 § III-4705

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-4705 - Suitability of Certain Lenders

A. Any person holding a security interest in immovable or movable property used in gaming operations shall be required to demonstrate suitability to the board.

B. The following lenders may be presumed suitable in connection with any transaction which is otherwise in compliance with the rules:

1. an institutional lender as defined in the Act; or

2. a person previously found suitable and approved by the board.

C. The board, in its sole discretion, may rescind the presumption of suitability provided in this section and require any lender to demonstrate its suitability in accordance with the Act and rules.

La. Admin. Code tit. 42, § III-4705

Promulgated by the Department of Public Safety and Corrections, Gaming Control Board, LR 38:1688 (July 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 27:15 and 24.