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Can you summarize CORS 44-30-1504?
SPORTS BETTING > Disclosure of information by corporate applicants - license required - investigation - criminal history record check - rules - definition.
Short Summary
This legal document governs the disclosure of information by corporate applicants for a sports betting license and licensees. It applies to corporate applicants for a sports betting license and licensees. The document requires corporate applicants and licensees to disclose the identity of board-appointed officers, directors, persons holding voting or controlling interests, persons holding nonvoting or passive ownership interests, holding/intermediary/subsidiary companies, and lenders with outstanding loans. The qualifications of individuals associated with holding/intermediary/subsidiary companies must also be established and maintained. The document allows for the waiver of qualification requirements. Additionally, all persons employed in gambling-related activities must be licensed, and key employees responsible for sports betting operations must be designated. Applicants must undergo background investigations and criminal history record checks. The document also mandates the submission of fingerprints for record checks. However, the authorization of sports betting is contingent upon approval by voters in a statewide election. No specific penalties are mentioned in this document.
Whom does it apply to?
Corporate applicants for a sports betting license and licensees
What does it govern?
Disclosure of information by corporate applicants for a sports betting license and licensees
What are exemptions?
The commission or the division may waive any or all of the qualification requirements for any person listed in subsection (1) or (2) of this section.
What are the Penalties?
No specific penalties mentioned.
Jurisdiction
Colorado