N.M. Admin. Code § 15.1.6.10

Current through Register Vol. 35, No. 23, December 10, 2024

Section 15.1.6.10 - OWNERSHIP OF PREMISES

A. Any applicant or licensee who leases all or part of the licensed premises or proposed licensed premises shall furnish the following information to the board within 30 days of the effective date of the lease:

(1) name, address, and brief statement of the nature of business of the lessor of the premises;

(2) brief description of the material terms of the lease;

(3) copy of all documents by which the applicant or licensee has a right to possess the premises, including the lease;

(4) statement describing any business relationships between the licensee or applicant and the lessor other than the lease; and

(5) any other information required by the board.

B. Every person who is a party to any lease with an applicant or a licensee shall provide any information requested by the board. Such information may include, but not be limited to, financial history, financial holdings, real and personal property ownership, interests in other companies, criminal history, personal history and associations, character, and reputation.

C. Failure to provide the information requested constitutes sufficient grounds for the board to deny the application or to require termination of the applicant's or licensee's lease with any person who failed to provide the requested information.

D. If the applicant or licensee owns all or part of the premises on which gaming is proposed to be conducted, the applicant or licensee shall fully disclose to the board complete information about the interest held by any other person, including an interest held under any mortgage, deed of trust, bonds, or any other instrument, and all other information required by the board.

E. The licensee shall furnish to the board complete information pertaining to any change in any premises lease or any change of ownership of, or interest in, the premises in which gaming is conducted within 30 days after the effective date of such change.

N.M. Admin. Code § 15.1.6.10

N, 11/30/98; 15.1.6.10 NMAC - Rn, 15 NMAC 1.6.10, 10/15/00; A, 2/14/02; A, 2/28/05