W. Va. Code R. § 179-5-19

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 179-5-19 - Operator - retailer contracts

19.1. A true copy of all contracts the applicant has entered into with persons who hold a limited video lottery retailer's license issued under the Act for placement of video lottery terminals in the premises of the limited video lottery retailer for whom authorizations were reserved shall be attached to the application along with a true copy of the certificate of reservation issued by the commission to that video lottery retailer.

19.2. The contract between the operator and the limited video lottery retailer shall be in writing and be signed by the parties, or their duly authorized representative when the party is a person who is not an individual;

19.2.a. The commission shall supply a contract elements form to provide quick and easy review of the important terms and elements of each contract;

19.2.b. The operator submitting each contract shall list the required information and contract terms from the signed contract onto the commission-supplied form and shall staple the form onto the appropriate contract prior to filing the contract with the commission; and

19.2.c. The operator shall provide to the commission an affidavit stapled to each contract, which is signed and attested to by the operator's chief executive stating that this contract is the only contract, agreement or understanding, written or oral, between the operator and the licensed video lottery retailer concerning the placement and operation of limited video lottery terminals, and that the operator will execute no further limited video lottery agreements with the retailer so long as this attached agreement is in force for video lottery terminals on the premise of the retailer stated in the contract. Any other agreements between the operator and the limited video lottery retailer shall be identified by the operator and are subject to review by the commission. Those agreements shall be negotiated in good faith and for fair market consideration, and shall not be for excess or unreasonable consideration designed to circumvent the requirement of this subdivision 19.2.c of this subsection.

W. Va. Code R. § 179-5-19