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Can you summarize Nevada GCCB Regulation 16?
Regulations of the Nevada Gaming Commission and Control Board > Regulation 16
Short Summary
Regulation 16, part of the Regulations of the Nevada Gaming Commission and Control Board, governs publicly traded corporations and public offerings of securities. It outlines the requirements and procedures for acquiring control of a corporate licensee or affiliated company, as well as the approval process for plan of recapitalization or exceptional repurchase of securities. The regulation also addresses reporting obligations, determination of beneficial owners of voting securities, licensing and suitability requirements for officers and directors of publicly traded corporations involved in gaming activities, and the powers of the Commission in requiring individuals with material relationships or involvement with publicly traded corporations to apply for a finding of suitability or licensing. The regulation provides exemptions for certain repurchases of securities and allows for the delegation of exemption-granting power to the Board. It also includes transition provisions and specifies the burden of proof for granting approvals. The regulation emphasizes the importance of full disclosure and compliance with state policies concerning gaming. No specific penalties are mentioned in the documents.
Whom does it apply to?
Corporate licensees, affiliated companies, officers and directors of publicly traded corporations involved in gaming activities, individuals with material relationships or involvement with publicly traded corporations
What does it govern?
Publicly traded corporations and public offerings of securities
What are exemptions?
Exemptions for certain repurchases of securities
What are the Penalties?
No specific penalties are mentioned in the documents.
Jurisdiction
Nevada