SB 472, as amended, Hill. Gaming: licenses.
The Gambling Control Act provides for the licensure of certain individuals and establishments involved in various gambling activities, and for the regulation of those activities, by the California Gambling Control Commission. The act requires every person who is required to hold a state license to obtain the license prior to engaging in the activity or occupying the position with respect to which the license is required, except as specified. Existing law requires every person who, by order of the commission, is required to apply for a gambling license or a finding of suitability to file an application within 30 calendar days after receipt of the order.
This bill would instead require the application described above to be filed within 45 calendar days after receipt of an order of the commission.
begin deleteno end delete.
State-mandated local program: no.
The people of the State of California do enact as follows:
(a) Notwithstanding Section 19852 or any other
begin delete law to the contrary,end delete and solely for the purpose
5of the licensure of a card club located
begin delete on the grounds of a racetrackend delete
6 that is owned by a limited
10partnership that also owns the racetrack, the
begin delete commission, exempt
11in its discretion, mayend delete
begin delete from the licensing requirements of this chapter all of the following:end delete
14(1) The limited partners in a limited partnership that holds
15interest in a holding company if all of the following criteria are
limited partners of the limited partnership in the
18aggregate directly hold at least 95 percent of the interest in the
20(B) The limited partner is one of the following:
21(i) An “institutional investor” as defined in subdivision (w) of
23(ii) An “employee benefit plan” as defined in Section 1002(3)
24of Title 29 of the United States Code.
25(iii) An investment company that manages a state university
27(2) Other limited partners in a limited partnership described in
28paragraph (1), if the partners do not number more than five and
29each partner indirectly owns 1 percent or less of the shares of the
30interest in the holding company.
31(3) A limited partner in a limited partnership that holds in the
32aggregate less than 5 percent of the interest in a holding company.
33(b) Nothing in this section shall be construed to limit the
34licensure requirements for a general partner of a limited partnership
35or a limited partner that is not specifically described in this section.
Section 19855 of the Business and Professions Code
38 is amended to read:
Except as otherwise provided by statute or regulation,
2every person who, by statute or regulation, is required to hold a
3state license shall obtain the license prior to engaging in the activity
4or occupying the position with respect to which the license is
5required. Every person who, by order of the commission, is
6required to apply for a gambling license or a finding of suitability
7shall file the application within 45 calendar days after receipt of
(a) Except as provided in subdivision
begin delete (b),end delete
12 a person shall be deemed to be unsuitable to hold a state gambling
13license to own a gambling establishment if the person, or any
14partner, officer, director, or shareholder of the person, has any
15financial interest in any business or organization that is engaged
16in any form of gambling prohibited by Section 330 of the Penal
17Code, whether within or without this state.
18(b) Subdivision (a)
begin delete doesend delete not apply to a publicly traded
19racing association, a qualified racing association, or any person
20who is licensed pursuant to subdivision (b) or (c) of Section 19852.