N.Y. Comp. Codes R. & Regs. tit. 9 § 5104.3

Current through Register Vol. 46, No. 45, November 2, 2024
Section 5104.3 - Failure to demonstrate financial stability

In the event a video lottery gaming agent, or any licensee under these regulations, fails to demonstrate financial stability as required by these regulations to the satisfaction of the commission, the commission may take such action as is necessary to fulfill the purposes of the act and to protect the public interest, including, but not limited to: issuing conditional or temporary licenses, approvals or determinations; establishing an appropriate cure period; imposing reporting requirements in excess of those otherwise mandated by these regulations; placing such restrictions on the transfer of cash or the assumption of liabilities as is necessary to insure future compliance with the financial stability standards; requiring the maintenance of reasonable reserves or the establishment of dedicated or trust accounts to insure future compliance with the financial stability standards; requiring a special audit, with such audit plan to be approved by the commission and conducted by an independent accounting firm at the expense of the video lottery gaming agent; charging interest as provided in these regulations on any outstanding amount of sales due the commission; suspending, revoking or denying licensure; or such other action as the commission determines appropriate in accordance with these regulations.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5104.3