Home Table of Contents

§ 9-1A-19. Video lottery license sales, transfers, or assignments

West's Annotated Code of MarylandState GovernmentEffective: November 25, 2008

West's Annotated Code of Maryland
State Government (Refs & Annos)
Title 9. Miscellaneous Executive Agencies (Refs & Annos)
Subtitle 1a. Video Lottery Terminals (Refs & Annos)
Effective: November 25, 2008
MD Code, State Government, § 9-1A-19
§ 9-1A-19. Video lottery license sales, transfers, or assignments
Currentness
In general
(a) Except as provided in subsection (b) of this section, a license issued under this subtitle may not be:
(1) transferred or assigned to another person; or
(2) pledged as collateral.
Commission approval
(b)(1) A licensee may not sell or otherwise transfer more than 5% of the legal or beneficial interests of the licensee unless:
(i) the licensee notifies the Commission of the proposed sale or transfer;
(ii) the Commission determines that the proposed buyer or transferee meets the requirements of this subtitle; and
(iii) the transfer is consistent with the policies and intent of § 9-1A-18 of this subtitle.
(2) Unless the Commission needs a longer time to determine whether the proposed buyer or transferee meets the requirements of this subtitle, if the requirements of paragraph (1) of this subsection are not satisfied, a license issued under this subtitle is automatically revoked 90 days after the sale or transfer.

Credits

Added by Acts 2007, 1st Sp. Sess., c. 4, § 1, eff. Nov. 25, 2008.
MD Code, State Government, § 9-1A-19, MD STATE GOVT § 9-1A-19
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document