SB 356, as amended, Yee. Gambling establishments: owner licensing.
Under existing law, a person is deemed unsuitable to hold a state gambling license to own a gambling establishment if the person, or any partner, officer, director, or shareholder of the person, has any financial interest in any business or organization that is engaged in a prohibited form of gambling, whether within or without this state, except as specified.
This bill would except from the application of this provision a person or entity that has been licensed in good standing as an owner of a gambling establishment for at least 5 years as of January 1, 2013, and that hasbegin delete obtainedend deletebegin insert notified the California Gambling Control Commission and the Department of Justice, and been
approved by the commission to obtainend insert a financial interest in abegin delete gambling operation that
is conducted only outside of the United States.end deletebegin insert business or organization that conducts lawful gambling outside the United States that, if conducted within California, would be unlawful.end insert
Vote: majority.
Appropriation: no.
Fiscal committee: begin deleteno end deletebegin insertyesend insert.
State-mandated local program: no.
The people of the State of California do enact as follows:
Section 19858 of the Business and Professions
2Code is amended to read:
(a) Except as provided in subdivisions (b) and (c), a
4person is deemed unsuitable to hold a state gambling license to
5own a gambling establishment if the person, or any partner, officer,
6director, or shareholder of the person, has any financial interest in
7any business or organization that is engaged in any form of
8gambling prohibited by Section 330 of the Penal Code, whether
9within or without this state.
10(b) Subdivision (a) does not apply to a publicly traded racing
11association, a qualified racing association, or any person who is
12licensed pursuant to subdivision (b) or (c) of Section 19852.
13(c) Subdivision (a) does not apply to a person or entity that
14meets both of the following:
15(1) Holds a license in good standing as an owner of a gambling
16establishment pursuant to this chapter for at least five years as of
17January 1, 2013.
18(2) Hasbegin delete obtained a financial interest in a gambling operation begin insert notified the
19that is conducted only outside of the United States.end delete
20commission and the department and received commission approval
21to obtain a financial interest in another business or organization
22that conducts lawful gambling outside the United States that, if
23conducted within California, would be unlawful.end insert
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