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Can you summarize ARAR 006.06.513?
Casino Gaming Rules > Corporate Licensees
Short Summary
This legal document outlines the powers and authorities of the Arkansas Racing Commission in relation to licensing, registration, and suitability of corporate licensees and institutional investors. The Commission has the power to recommend the granting, denial, limitation, conditioning, restriction, revocation, or suspension of licenses, registrations, approvals, or findings of suitability. They also have the authority to conduct investigations and require payment of investigation fees. The burden of proof for obtaining licenses, approvals, registrations, or findings of suitability lies with the applicant. The document also includes provisions regarding disclosure of family agreements, ownership restrictions, and prohibitions related to the distribution or transfer of securities. Institutional investors may apply for waivers of ownership requirements if they intend to hold securities for investment purposes only. The document also outlines the procedures for obtaining waivers, registration, and licensure. Overall, the document provides a comprehensive framework for the regulation of corporate licensees and institutional investors in the gaming industry in Arkansas.
Whom does it apply to?
Arkansas Racing Commission, corporate licensees, institutional investors
What does it govern?
Powers and authorities of the Arkansas Racing Commission in relation to licensing, registration, and suitability of corporate licensees and institutional investors
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Arkansas