N.J. Admin. Code § 19:43A-8.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 19:43A-8.2 - Institution of casino license conservatorship and appointment of conservators

(a) Notwithstanding any other provision of the Act, upon the revocation of a casino license or upon, in the discretion of the Commission, the suspension of a casino license or operation certificate for a period of in excess of 120 days and notwithstanding the pendency of any appeal therefrom, the Commission shall appoint and constitute a conservator to, among other things, take over and into his or her possession and control all the property and business of the licensee relating to the casino and the approved hotel.

(b) Notwithstanding the foregoing, no conservator shall be constituted and appointed in any instance in which the casino hotel facility for which the casino license has been issued has not been, in fact, in operation and open to the public.

(c) The Commission may proceed in a conservatorship action in a summary manner or otherwise and shall have the power to appoint and remove one or more conservators.

N.J. Admin. Code § 19:43A-8.2

Adopted by 47 N.J.R. 1653(a), effective 7/6/2015