Ask Reggi Your Question Now
Can you summarize Nevada GCCB Independent Agents?
Regulation 25 > Independent Agents
Short Summary
The provided legal document content pertains to the registration and regulation of independent agents in the Nevada gaming industry. The document outlines the requirements for agreements between licensees and independent agents, as well as the conditions for termination of such agreements. It specifies that the agreement between a licensee and an independent agent must be terminated if the Commission determines that the agent is unsuitable, unless the Commission orders otherwise. The agreement is not effective and the independent agent is not entitled to any compensation until the licensee receives notice of the agent’s registration from the Chair. The document defines various terms such as ‘Chair’, ‘Customer Incentive’, ‘Independent agent’, and ‘Registered independent agent’. It also mentions the concept of theoretical earning potential and prohibits licensees from compensating independent agents based on actual earnings or profits from gambling games played by patrons, unless the agent has been found suitable by the Commission. The document further outlines the reporting and recordkeeping obligations for licensees and independent agents, including the requirement to notify the Board of new agreements or terminations, submit lists of terminated and active agreements, and provide information regarding patrons and business arrangements with independent agents. It also mandates the submission of the standard controlling agreement and any deviations from it. The document does not specify any penalties for non-compliance or violations. Overall, it provides a comprehensive framework for the registration and regulation of independent agents in the Nevada gaming industry.
Whom does it apply to?
Licensees and independent agents in the Nevada gaming industry
What does it govern?
Registration and regulation of independent agents in the Nevada gaming industry
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada