Current through Register Vol. 35, No. 11, June 11, 2024
Section 15.1.10.7 - DEFINITIONS Unless otherwise defined below, terms used in this rule have the same meanings as set forth in the Gaming Control Act:
A."act" means the Gaming Control Act;B."additional payout" means a supplemental cash payout, based on a jackpot, that is not reflected in the gaming machine pay table (e.g., double jackpot);C."affiliate" means a corporation that is related to another corporation by share holdings or other means of control; a subsidiary, parent, or sibling corporation;D."allocate" means the transfer of an allocating racetrack's right to operate a number of its authorized gaming machines to the receiving racetrack;E."allocation agreement" means a written contract between an allocating racetrack and a receiving racetrack;F."allocating racetrack" means a racetrack gaming operator licensee that has allocated or is proposing to allocate a number of its authorized gaming machines to a receiving racetrack pursuant to a valid allocation agreement;G."allowable gaming expenses" means the following bona fide expenses in reasonable and customary amounts: license fees, including renewals and gaming machine license fees;
H."balance of net take" means the amount of net take remaining after the gaming operator licensee pays the gaming tax, income and other applicable taxes, and allowable gaming expenses as set forth in this rule;I."charitable purposes" means activities that promote, directly or indirectly, the well-being of the public at large or the benefit of an indefinite number of persons in the state; the term "charitable purposes" does not include operating expenses of the organization or any affiliated organization;J."control" means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of the licensee or to exercise significant influence over management and policies due to financial investment, assumption of debts or expenses, or other monetary or non-monetary considerations extended to the licensee;K."credit slip" means a cash-out ticket for winnings earned on a gaming machine that provides for credit play;L."disciplinary action" means an action by the board that limits, conditions, suspends or revokes a license, registration, finding of suitability or prior approval issued by the board, or an assessment of a fine by the board, or any combination of the foregoing;M."educational purposes" means activities or uses that develop the capabilities of individuals by formal instruction; the term "educational purposes" does not include the operating expenses of the organization or any affiliated organization;N."gaming credit" means an accumulation of awards on a gaming machine display screen rather than from the dispensing of winnings from a hopper; one gaming credit equals the denomination of the game being played;O."independent administrator" means: (1) a bank licensed by the state or a national bank with an office in the state; or(2) an insurance company admitted to transact business in the state with a best insurance rating of "A," "A+" or "A-"; and(3) one that is not an affiliate of the gaming operator licensee;P."receiving racetrack" means a racetrack gaming operator licensee that is proposing to receive, or has received pursuant to a valid allocation agreement, allocated gaming machines from an allocating racetrack;Q."management contractor" means any person that has entered into a management contract with a gaming operator licensee; a management contractor may not be an affiliate of the licensee;R."nonprofit operator licensee" means a qualified nonprofit organization that has obtained a gaming operator's license pursuant to the provisions of the act and board regulations;S."periodic payments" means a series of payments that are paid at least annually and includes annuities;T."person" means a legal entity or individual;U."personal property award" means an award of personal property based on gaming machine play;V."promotion" means a short-term program designed to stimulate participation in gaming activities by patrons through advertising and the award of cash and non-cash prizes, not based on a jackpot; "promotion" includes the gift of nominal value items, such as T-shirts and mugs; and includes player's clubs or similar programs in which gaming patrons accumulate points, which can be exchanged for cash, machine credits, merchandise or any other thing of value;W."state" means the state of New Mexico;X."this title" means Title 15, Chapter 1 of the state administrative code;Y."trust" means an irrevocable fiduciary relationship in which one person is the holder of the title to property subject to an equitable obligation to keep or use the property for the benefit of another.12/31/98; 15.1.10.7 NMAC - Rn & A, 15 NMAC 1.10.7, 3/31/00; A, 04/30/02; A 5/14/04; A, 5/15/07; A, 6/30/08, Adopted by New Mexico Register, Volume XXVI, Issue 19, October 15, 2015, eff. 10/15/2015, Adopted by New Mexico Register, Volume XXVII, Issue 02, January 29, 2016, eff. 1/29/2016, Amended by New Mexico Register, Volume XXXV, Issue 10, May 21, 2024, eff. 5/21/2024