N.Y. Comp. Codes R. & Regs. tit. 9 § 5315.13

Current through Register Vol. 46, No. 45, November 2, 2024

Section 5315.13 - Retention, storage of records

(a) In addition to other records and information required by this Part, each gaming facility licensee shall maintain and keep current the following records in regard to the equity structure and owners of such licensee:

(1) If a corporation:

(i) a certified copy of articles of incorporation and any amendments thereto;

(ii) a copy of by-laws and amendments thereto;

(iii) an incumbency list of officers and directors;

(iv) minutes of all meetings of stockholders and directors;

(v) a current list of all stockholders and stockholders of affiliates, including the names of beneficial owners of shares held in street or other name where any beneficial owner has a beneficial interest in two percent or more of the outstanding shares of any class, addresses and the number of shares held by each and the date acquired;

(vi) a complete record of all transfers of stock;

(vii) a record of amounts paid to the corporation for issuance of stock and other capital contributions and dates thereof;

(viii) a record, by stockholder, of all dividends distributed by the corporation; and

(ix) a record of all salaries, wages, and other remuneration (including prerequisites), direct and indirect, paid during the calendar or fiscal year, by the corporation, to all officers, directors, and stockholders with an ownership interest at any time during the calendar or fiscal year, equal to or greater than five percent of the outstanding capital stock of any class of stock.

(2) If a partnership:

(i) a schedule showing the amounts and dates of capital contributions, the names and addresses of the contributors and percentage of interest in net assets, profits, and losses held by each;

(ii) a record of the withdrawal of partnership funds or assets;

(iii) a record of salaries, wages and other remuneration (including prerequisites), direct and indirect, paid to each partner during the calendar or fiscal year; and

(iv) a copy of the partnership agreement and certificate of limited partnership, if applicable.

(3) If a sole proprietorship:

(i) a schedule showing the name and address of the proprietor and the amount and date of such proprietor's original investment;

(ii) a record of dates and amounts of subsequent additions to the original investment and withdrawals therefrom; and

(iii) a record of salaries, wages and other remuneration (including prerequisites), direct or indirect, paid to the proprietor during the calendar or fiscal year.

(4) If a limited liability company:

(i) a certified copy of the articles of organization;

(ii) a certified copy of the operating agreement;

(iii) a list of all current and former managers, including names and addresses;

(iv) a list of the members, including names, addresses, the percentage of interest in net assets, profits and distributions of cash held or attributable to each, the amount and date of each capital contribution of each member, the date the interest was acquired and the method of determining a member's interest;

(v) a schedule of all withdrawals of company funds or assets by members;

(vi) a schedule of direct or indirect salaries, wages and other remuneration, including prerequisites, paid to each member during the calendar or fiscal year;

(vii) a copy of the membership ledger or its electronic equivalent;

(viii) a complete record of all transfers of membership interests; and

(ix) a schedule of amounts paid to the company for the issuance of membership interests and other capital contributions and the dates the amounts were paid.

(b) All records in regard to ownership shall be located on the premises of a gaming facility, unless the commission allows a specific exemption to such gaming facility licensee.

(c) A gaming facility licensee or applicant shall, upon request by the commission, provide a list of all record holders of any or all classes of publicly traded securities issued by any holding company or by any other affiliated entity that is required to qualify as a financial source.

(d) A gaming facility licensee shall provide the commission, upon request, with the records required to be maintained as set forth in Article 13 of the Racing, Pari-Mutuel Wagering and Breeding Law or this Subchapter. Each gaming facility licensee is responsible for the acts and omissions of its agents, employees and contractors in complying with all obligations imposed by law, this Subchapter and internal control minimum procedures. Each gaming facility licensee shall retain all such records within the State of New York for at least seven years after such records are made and the related gaming tax return is filed. Records include, without limitation, formats as hard-copy documents, revenue system database, tables and fields structures of the database, meter files and electronic reports.

(e) Failure to keep and provide such records is an unsuitable method of operation and subject to a fine, penalty or revocation of license.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5315.13

Adopted New York State Register November 16, 2016/Volume XXXVIII, Issue 46, eff. 11/16/2016