California Business and Professions Code

§ 19883

BPC § 19883 Effective Aug 24, 2007Div. 8 · Ch. 5 · Art. 5

Statute text

(a)To the extent required by this chapter, officers and directors, shareholders, lenders, holders of evidence of indebtedness, underwriters, agents, or employees of a corporate owner licensee shall be licensed individually. The corporation shall require these persons to apply for a gambling license, and shall notify the department of every change of corporate officers, directors, or key employees within 10 business days after the change. An officer, director, or key employee who is required to apply for a license shall apply for the license within 30 calendar days after he or she becomes an officer, director, or key employee.

(b)The corporation shall immediately remove any officer or director required to apply for a license from any office or directorship if any of the following apply to that officer or director:

(1)He or she fails to apply for the license within 30 calendar days after becoming an officer or director.

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Legislative history

Amended by Stats. 2007, Ch. 176, Sec. 31. Effective August 24, 2007.