S.D. Admin. R. 20:04:33:21
If the applicant for a license as a multi-jurisdictional totalizator hub is a corporation, shareholders holding five percent or more of the corporations stock must file an application and consent to a background investigation to determine the suitability for licensure. The commission may require any shareholder owning less than five percent of the corporations stock to file an application and consent to a background investigation to determine the stockholders suitability for licensure. If the applicant for a license as a multi-jurisdictional totalizator hub is a formal or an informal partnership each partner must file an application and consent to a background investigation to determine the applicants suitability for licensure.
S.D. Admin. R. 20:04:33:21
General Authority: SDCL 42-7-56(15)(16)(17).
Law Implemented: SDCL 42-7-56(15)(16)(17) 42-7-58.1, 42-7-58.7.