Section R. 432.1316 - Notification by publicly traded applicants, licensees, or holding companies requiredRule 316.
(1) A publicly traded company that applies for or holds a casino license or a publicly traded holding company or affiliate that has control of a casino license applicant or licensee shall notify the board, as soon as practicable after it becomes aware that, with regard to any such publicly traded company, any person or individual has beneficially acquired any of the following: (a) Greater than 1% of any class of the company's equity securities.(b) The ability to control the publicly traded applicant or licensee or the publicly traded holding company or affiliate that has control of a casino license applicant or licensee.(c) The ability to elect 1 or more directors of the publicly traded applicant or licensee or of the publicly traded holding company or affiliate that has control of a casino license applicant or licensee. To the extent known by the applicant or licensee, the required notification shall include, without limitation, the name, business address, phone number, and other personal identification information for each person or individual.(2) If a publicly traded casino license applicant or licensee, publicly traded holding company, or a casino license applicant or licensee either files or is served with any schedule 13D or 13G, or form 13F under the securities exchange act of 1934, 15 USC 78a to 78qq, 17 CFR 240.13d-101 to -102, and 240.13f-1, as amended, it must submit a copy of the filing to the board within 14 days after receipt or filing.(3) A publicly traded corporation is considered to have complied with this rule if it has complied with the reporting requirements in R 432.1406.Mich. Admin. Code R. 432.1316
1998-2000 AACS; 2019 MR 9, Eff. 5/17/2019