Today's Law As Amended


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AB-2096 Gambling Control Act: licensing: corporations.(2019-2020)



As Amends the Law Today


SECTION 1.

 Section 19883 of the Business and Professions Code is amended to read:

19883.
 (a) To the extent required by this chapter, officers and directors, shareholders, lenders, holders of evidence of indebtedness, underwriters, agents, or employees of a corporate owner licensee shall be licensed individually. The corporation shall require these persons to apply for a gambling license, and shall notify the department of every change of corporate officers, directors, or key employees within 10 business days after the change. An officer, director, or key employee who is required to apply for a license shall apply for the license within 30 35  calendar days after he or she becomes  they become  an officer, director, or key employee.
(b) The corporation shall immediately remove any an  officer or director required to apply for a license from any an  office or directorship if any of the following apply to that officer or director:
(1) He or she fails  They fail  to apply for the license within 30 35  calendar days after becoming an officer or director.
(2) He or she is  They are  denied a license.
(3) His or her  Their  license is revoked.
(c) If the license of any officer or director is suspended, the corporation, immediately and for the duration of the suspension, shall suspend that officer or director.
(d) If any a  shareholder who is required to apply for a gambling license fails to apply for the license within the time required, the shareholder shall be deemed to have been denied a license for purposes of subdivision (b) of Section 19882.
(e) If any a  person, other than an officer, director, or shareholder, who is required to apply for a gambling license fails to do so, the failure may be deemed to be a failure of the corporate owner licensee to require the application.