463B.200 Distribution to former legal owner; exceptions.
1. Except as otherwise provided in subsection 2 and subject to prior approval by the court which appointed the supervisor, a supervisor may, consistently with regulations to be adopted by the Commission, make periodic distribution of earnings to the former legal owner of the gaming establishment.
2. Upon petition to the court by the Commission, earnings that would otherwise be distributed pursuant to subsection 1 must, except as otherwise provided in this subsection, be paid into the court pending judicial review of the final determination of the Commission. An amount of the earnings which represents the reasonable rental value of the premises must be retained by the supervisor for distribution to the former legal owner. If the Commission has ordered suspension or revocation of a license and:
(a) The Commission’s order of suspension or revocation is upheld after final judicial review; and
(b) The gaming establishment is sold pursuant to this chapter,
Ê all earnings, except the amount representing the reasonable rental value of the premises as determined by the court, which were paid into the court pursuant to this subsection are forfeited and must be deposited in the State General Fund. If that order is reversed or otherwise modified and the former legal owner regains his or her license, the earnings must be distributed to the former legal owner.
(Added to NRS by 1979, 807; A 1985, 804; 1991, 1014)
463B.200 Distribution to former legal owner; exceptions.
1. Except as otherwise provided in subsection 2 and subject to prior approval by the court which appointed the supervisor, a supervisor may, consistently with regulations to be adopted by the Commission, make periodic distribution of earnings to the former legal owner of the gaming establishment.
2. Upon petition to the court by the Commission, earnings that would otherwise be distributed pursuant to subsection 1 must, except as otherwise provided in this subsection, be paid into the court pending judicial review of the final determination of the Commission. An amount of the earnings which represents the reasonable rental value of the premises must be retained by the supervisor for distribution to the former legal owner. If the Commission has ordered suspension or revocation of a license and:
(a) The Commission’s order of suspension or revocation is upheld after final judicial review; and
(b) The gaming establishment is sold pursuant to this chapter,
Ê all earnings, except the amount representing the reasonable rental value of the premises as determined by the court, which were paid into the court pursuant to this subsection are forfeited and must be deposited in the State General Fund. If that order is reversed or otherwise modified and the former legal owner regains his or her license, the earnings must be distributed to the former legal owner.
(Added to NRS by 1979, 807; A 1985, 804; 1991, 1014)
463B.200 Distribution to former legal owner; exceptions.
1. Except as otherwise provided in subsection 2 and subject to prior approval by the court which appointed the supervisor, a supervisor may, consistently with regulations to be adopted by the Commission, make periodic distribution of earnings to the former legal owner of the gaming establishment.
2. Upon petition to the court by the Commission, earnings that would otherwise be distributed pursuant to subsection 1 must, except as otherwise provided in this subsection, be paid into the court pending judicial review of the final determination of the Commission. An amount of the earnings which represents the reasonable rental value of the premises must be retained by the supervisor for distribution to the former legal owner. If the Commission has ordered suspension or revocation of a license and:
(a) The Commission’s order of suspension or revocation is upheld after final judicial review; and
(b) The gaming establishment is sold pursuant to this chapter,
Ê all earnings, except the amount representing the reasonable rental value of the premises as determined by the court, which were paid into the court pursuant to this subsection are forfeited and must be deposited in the State General Fund. If that order is reversed or otherwise modified and the former legal owner regains his or her license, the earnings must be distributed to the former legal owner.
(Added to NRS by 1979, 807; A 1985, 804; 1991, 1014)
