La. Admin. Code tit. 42 § III-2937
Current through Register Vol. 50, No. 11, November 20, 2024
Section III-2937 - DistributionsA. Each licensee and casino operator shall submit to the division a report for each fiscal quarter reflecting intercompany financial transactions between the licensee or casino operator and any affiliate. The quarterly report shall set forth any intercompany flow of funds and any intercompany loan(s).B. Other than repayment of debt that has been approved by the board, debt otherwise deemed approved by these regulations, or transactions that are included in the quarterly report required by Subsection A of this Section, a licensee or casino operator or its holding company shall provide written notice to the division within five days of the completion of the following transactions:1. withdrawal of capital in excess of 5 percent of the licensee's net gaming proceeds or net slot machine proceeds or the casino operator's gross gaming revenue for the preceding 12-month period;2. the granting of a loan or any other extension of credit in excess of 5 percent of the licensee's net gaming proceeds or net slot machine proceeds or the casino operator's gross gaming revenue for the preceding 12-month period;3. any advance or other distribution of any type of asset in excess of 5 percent of the licensee's net gaming proceeds or net slot machine proceeds or the casino operator's gross gaming revenue for the preceding 12-month period.La. Admin. Code tit. 42, § III-2937
Promulgated by the Department of Public Safety and Corrections, Gaming Control Board, LR 38:1659 (July 2012).AUTHORITY NOTE: Promulgated in accordance with R.S. 27:15 and 24.