Ask Reggi Your Question Now
Can you summarize MIAC R 432.1103?
DEFINITIONS > Definitions; G to I
Short Summary
This document provides definitions for various terms related to casino gaming and operations. It defines terms such as ‘gaming area’ which refers to the room or rooms in a casino where gaming is conducted, ‘gaming equipment or supplies’ which includes machines, software, cards, dice, and layouts for live table games, and ‘gaming operations manager’ which refers to the person responsible for managing the gambling operation in a licensed casino. The document also defines terms like ‘hearing officer’ who conducts hearings on matters within the jurisdiction of the board, ‘holding company’ which refers to a person that owns or controls a casino license or supplier’s license, and ‘immediate family’ which includes spouse, parent, child, dependent, sibling, spouse of sibling, father-in-law, and mother-in-law. Additionally, it defines terms like ‘indirect interest’ which refers to a financial stake in a person through another person, ‘individual’ which means any natural person, ‘interim compliance period’ which is the period between the issuance of a certificate of suitability and the issuance of a casino license or notice of denial, and ‘intermediary company’ which includes holding companies and subsidiaries of persons holding or applying for a casino or supplier license. The document also defines terms like ‘internal control system’ which refers to the internal procedures and controls designed by a casino licensee to exercise control over the gambling operation and its assets, and ‘irrevocable letter of credit’ which is an engagement by a banking institution to honor demands for payment upon compliance with specified conditions. Overall, this document provides a comprehensive set of definitions for various terms used in the context of casino gaming and operations.
Whom does it apply to?
Casinos licensed under the act and these rules
What does it govern?
Definitions related to casino gaming and operations
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Michigan