75-76-209 - Information required of corporations applying for gaming license. - Mississippi Statutes

§ 75-76-209. Information required of corporations applying for gaming license.
 

A corporation which applies for a state gaming license shall register as a corporation with the commission and shall provide the following information to the executive director: 
 

(a) The organization, financial structure and nature of the business to be operated, including the names, personal history and fingerprints of all officers, directors and key employees, and the names, addresses and number of shares held by all stockholders. 

(b) The rights and privileges acquired by the holders of different classes of authorized securities, including debentures. 

(c) The terms on which securities are to be offered. 

(d) The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges or any other indebtedness or security device. 

(e) The extent of the equity security holding in the corporation of all officers, directors and underwriters, and their remuneration as compensation for services, in the form of salary, wages, fees or otherwise. 

(f) Remuneration to persons other than directors and officers exceeding Thirty Thousand Dollars ($30,000.00) per annum. 

(g) Bonus and profit sharing arrangements. 

(h) Management and service contracts. 

(i) Options existing or to be created. 

(j) Balance sheets for at least three (3) preceding fiscal years, or, if the corporation has not been incorporated for a period of three (3) years, balance sheets from the time of its incorporation. All balance sheets shall be certified by independent public accountants certified or registered in the State of Mississippi. 

(k) Profit and loss statements for at least the three (3) preceding fiscal years, or, if the corporation has not been incorporated for a period of three (3) years, profit and loss statements from the time of its incorporation. All profit and loss statements shall be certified by independent public accountants certified or registered in the State of Mississippi. 

(l) Any further financial data which the executive director or the commission may deem necessary or appropriate for the protection of the State of Mississippi or licensed gambling, or both. 
 

Sources: Laws,  1990 Ex Sess, ch. 45, § 106, eff from and after passage (approved June 29, 1990).