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§ 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
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 with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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