Section R. 432.1107 - Definitions; S to URule 107.
As used in these rules:
(a) "Slot machine" means a type of EGD.(b) "Slug" means a disk or object which is not issued by the casino licensee and which does not have a cash value.(c) "Sole proprietor" means an individual who owns 100% of the assets and who is principally liable for the debts of a business, regardless of whether another person guarantees payment of such debts.(d) "Standard chi-squared analysis" means the sum of the squares of the difference between the expected result and the observed result.(e) "Subsidiary" means a person, other than an individual, including, without limitation, a firm, partnership, trust, limited liability company, or other form of business organization in which an equity interest is owned, subject to a power or right of control, or held with the power to vote directly, indirectly, or in conjunction with a holding company or intermediary company.(f) "Substantial owner" means the holder of any of the following: (i) More than 5% of the total combined voting power of a corporation or more than 5% of the total value of shares of all classes of stock of a corporation.(ii) More than a 5% interest in a partnership.(iii) More than 5% of the value of a trust computed actuarially.(iv) More than 5% of the legal or beneficial interest in any other person. For purposes of computing the percentages in this subdivision, a holder will be deemed to own any stock or other interest in a person, whether owned directly, indirectly, or attributed. The term "substantial owner" does not include an institutional investor, unless the institutional investor has more than a 5% interest in the applicant or licensee and fails to meet the standards set forth in section 6c(1) of the act, MCL 432.206c, for waiver of the eligibility and suitability requirements for licensure under the act and these rules.(g) "Supplier" means a person who the board has identified under rules promulgated by the board as requiring a license to provide casino licensees or casino enterprises with goods or services regarding the realty, construction, maintenance, or business of a proposed or existing casino, casino enterprise, or related facility, including, but not limited to any of the following: (ii) Security businesses.(iii) Manufacturers of gaming devices or equipment.(v) Persons who service gaming devices or equipment.(vii) Maintenance companies.(ix) Construction companies.(h) "Surety bond" means a contractual arrangement between the surety, the principal, and the obligee that the surety agrees to protect the obligee if the principal defaults in performing the principal's contractual obligation. The bond is the instrument that binds the surety.(i) "Table drop" means the total dollar amount of United States and foreign currency, chips, tickets, markers, or credits contained in the drop box of a live gaming device.(j) "Table win" means the dollar amount which is won by the casino licensee through play at a live game and which is the total of the table drop, plus ending chip inventory, minus opening chip inventory, plus chip credits, minus fills.(k) "Theoretical payout percentage" means the sum of the number of cash equivalents or credits expected to be paid as a result of the jackpots divided by the number of different possible outcomes.(l) "Ticket" means a representation of value stated on a coded paper instrument that is redeemable for the equivalent value in cash only at the issuing casino and is issued by a casino licensee for use in gaming.(m) "Tilt condition" means a programmed error state for an EGD that occurs when the EGD detects an internal error malfunction or attempted cheating. The EGD ceases processing further input, output, or display information other than that indicating the tilt condition itself.Mich. Admin. Code R. 432.1107
1998-2000 AACS; 2019 MR 9, Eff. 5/17/2019