463.637 - Individual licensing of directors, officers and employees; removal from position if found unsuitable or if license is denied or revoked; suspension of suitability by Commission. - Nevada Statutes

463.637  Individual licensing of directors, officers and employees; removal from position if found unsuitable or if license is denied or revoked; suspension of suitability by Commission.

      1.  Each officer, director and employee of a publicly traded corporation who the Commission determines is or is to become actively and directly engaged in the administration or supervision of, or any other significant involvement with, the gaming activities of the corporation or any of its affiliated or intermediary companies must be found suitable therefor and may be required to be licensed by the Commission.

      2.  If any officer, director or employee of a publicly traded corporation required to be licensed or found suitable pursuant to subsection 1 fails to apply for a gaming license or finding of suitability within 30 days after being requested to do so by the Commission, or is denied a license or not found suitable by the Commission, or if his or her license or the finding of his or her suitability is revoked after appropriate findings by the Commission, the publicly traded corporation shall immediately remove that officer, director or employee from any office or position wherein the officer, director or employee is actively and directly engaged in the administration or supervision of, or any other significant involvement with, the gaming activities of the corporation or any of its affiliated or intermediary companies. If the Commission suspends the finding of suitability of any officer, director or employee, the publicly traded corporation shall, immediately and for the duration of the suspension, suspend that officer, director or employee from performance of any duties wherein the officer, director or employee is actively and directly engaged in administration or supervision of, or any other significant involvement with, the gaming activities of the corporation or any of its affiliated or intermediary companies.

      (Added to NRS by 1969, 371; A 1977, 1439; 1979, 1530; 1993, 191)