N.Y. Comp. Codes R. & Regs. tit. 9 § 5114.7

Current through Register Vol. 46, No. 45, November 2, 2024

Section 5114.7 - Records regarding ownership

(a) In addition to other records and information required by these regulations, each video lottery gaming agent and/or the managing agent for the video lottery gaming facility shall maintain and keep current the following records regarding the equity structure and owners:

(1) If a corporation:

(i) a certified copy of articles of incorporation and any amendments thereto;

(ii) a copy of by-laws and amendments thereto;

(iii) an incumbency list of officers and directors;

(iv) minutes of all meetings of stockholders and directors;

(v) a current list of all stockholders and stockholders of affiliates, including their names and the names of beneficial owners of shares held in street or other name where any beneficial owner has a beneficial interest in two percent or more of the outstanding shares of any class, addresses, and the number of shares held by each and the date acquired;

(vi) a complete record of all transfers of stock;

(vii) a record of amounts paid to the corporation for issuance of stock and other capital contributions and dates thereof;

(viii) a record, by stockholder, of all dividends distributed by the corporation; and

(ix) a record of all salaries, wages, and other remuneration (including prerequisites), direct and indirect, paid during the calendar or fiscal year, by the corporation, to all officers, directors, and stockholders with an ownership interest at any time during the calendar or fiscal year, equal to or greater than five percent of the outstanding capital stock of any class of stock.

(2) If a partnership:

(i) a schedule showing the amounts and dates of capital contributions, the names and addresses of the contributors, and percentage of interest in net assets, profits, and losses held by each;

(ii) a record of the withdrawal of partnership funds or assets;

(iii) a record of salaries, wages, and other remuneration (including prerequisites), direct and indirect, paid to each partner during the calendar or fiscal year; and

(iv) a copy of the partnership agreement and certificate of limited partnership, if applicable.

(3) If a sole proprietorship:

(i) a schedule showing the name and address of the proprietor and the amount and date of such proprietor's original investment;

(ii) a record of dates and amounts of subsequent additions to the original investment and withdrawals therefrom; and

(iii) a record of salaries, wages, and other remuneration (including prerequisites), direct or indirect, paid to the proprietor during the calendar or fiscal year.

(4) If a limited liability company:

(i) a certified copy of the articles of organization;

(ii) a certified copy of the member agreement;

(iii) a certified record of all current members;

(iv) an incumbency list for all officers; and

(v) minutes of all meetings of members.

(b) All records regarding ownership shall be located on the premises of the video lottery gaming facility, unless a specific exemption is allowed to the video lottery gaming agent by the commission.

(c) Each video lottery gaming agent or applicant shall, upon request by the commission, provide a list of all record holders of any or all classes of publicly traded securities issued by any holding company or by any other affiliated entity that is required to qualify as a financial source.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5114.7