BILL NUMBER: AB 156	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Lara

                        JANUARY 18, 2011

   An act to amend Section 19902 of the Business and Professions
Code, relating to gaming.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 156, as introduced, Lara. Gambling control: sale or lease of
licensee property.
   Existing law establishes the California Gambling Control
Commission and prescribes the requirements for obtaining a gambling
license and defines a gambling establishment or licensed premises for
these purposes. Existing law limits the transfer of property if the
transferee has to be approved or licensed by the commission, and
specifically prohibits a contract for sale or lease of real or
personal property that requires approval of the commission, as
specified, from specifying a closing date earlier than 90 days after
the submission of the contract to the commission, as specified.
   This bill would permit a contract for the sale or lease of real or
personal property, subject to the limitations described above, to
specify a closing date earlier than 90 days after the submission of
the contract to the commission if the commission has approved the
contract and the parties have requested it.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 19902 of the Business and Professions Code is
amended to read:
   19902.  When any person contracts to sell or lease any property or
interest in property, real or personal, under circumstances that
require the approval or licensing of the purchaser or lessee by the
commission pursuant to subdivision (a) of Section 19853, the contract
shall not specify a closing date for the transaction that is earlier
than the expiration of 90 calendar days after the submission of the
completed application for approval for licensing.  Any
  Except as provided in this section, any 
provision of a contract that specifies an earlier closing date is
void for all purposes, but the invalidity does not affect the
validity of any other provision of the contract.  If the
commission has approved a contract for sale or lease, the commission
may permit the contract to specify a closing date that is earlier
than the expiration of 90 calendar days after the submission of the
completed application, if so requested by the parties to the
contract.