Ask Reggi Your Question Now
Can you summarize RIGL Title 41, Chapter 9?
Sports, Racing, and Athletics > Establishment and Extension of Gambling Activities and Other Facilities
Short Summary
This legal document pertains to the financial disclosure requirements for individuals and corporations involved in promoting or having an interest of five percent (5%) or greater in the establishment or extension of any gambling activity or facility. These individuals or entities are required to file a financial statement with the ethics commission by the first Monday in August prior to the general election where the establishment or extension of the gambling activity or facility is presented to the electorate. If the interest of five percent (5%) or greater is acquired after the first Monday in August, the financial statement must be filed within seven (7) days of acquiring the interest. The duty to file the financial statement is ongoing and applies to any and all persons and/or corporations with an interest of five percent (5%) or greater in the activity and/or facility. The document does not specify any penalties for non-compliance or violations.
Whom does it apply to?
Individuals who are required to file a financial statement and have a 5% or greater equity interest in a business entity subject to regulation by this chapter or a state/municipal agency
What does it govern?
Financial disclosure requirements for persons and/or corporations involved in promoting or having an interest of five percent (5%) or greater in the establishment or extension of any gambling activity or facility
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are specified for non-compliance or violations.
Jurisdiction
Rhode Island