N.J. Admin. Code § 13:69C-10.3

Current through Register Vol. 56, No. 16, August 19, 2024

Section 13:69C-10.3 - Review of agreements and records of agreements; termination upon disapproval

(a) The Division may review each agreement and record maintained pursuant to 13:69C-10.2 to determine the following:

1. The reasonableness of the terms of the agreement, including the terms of compensation;

2. The qualifications of the persons involved in and associated with the agreement in accordance with the standards enumerated in Section 86 of the Act, after which the Division may make a finding as to the suitability of such persons to be involved or associated with the casino licensee or applicant; and

3. Whether any action is desirable or necessary to regulate, control or prevent economic concentration in any casino service industry or to encourage or preserve competition in any casino service industry in accordance with N.J.S.A. 5:12-1b(12) and 13:69J-1.6.

(b) If the Division disapproves of an agreement governed by N.J.S.A. 5:12-104b and 13:69C-10.2 or any person associated therewith, the Division may by directive require the termination of such agreement or association or pursue any remedy or combination of remedies provided for in the Act or the rules of the Division. If such disapproved agreement or association is not thereafter promptly terminated as required by Division directive, the Division may pursue any remedy or combination of remedies provided for in the Act or the rules of the Division.

(c) Each agreement maintained pursuant to 13:69C-10.2 shall be deemed to include a provision for its termination without liability on the part of the casino licensee or applicant, or on the part of any qualified party to the agreement or any related agreement the performance of which is dependent upon such agreement, in the event that the Division disapproves the agreement in accordance with (b) above.

N.J. Admin. Code § 13:69C-10.3