State Codes and Statutes
Statutes > New-jersey > Title-5 > Section-5-12 > 5-12-815:12-81 Statement of compliance.
81.Statement of compliance.
a. (1) The commission may, in its discretion, issue a statement of compliance to an applicant for any license or for qualification status under this act at any time the commission is satisfied that the applicant has established by clear and convincing evidence that one or more particular eligibility criteria have been satisfied by an applicant. A request for the issuance of a statement of compliance pursuant to this paragraph shall be initiated by the applicant filing a petition with the commission. Before the commission refers any such petition to the division for investigation, the commission may require the applicant to establish to the satisfaction of the commission that the applicant actually intends, if found qualified, to engage in the business or activity that would require the issuance of the license or the determination of qualification status.
(2)Any person who must be qualified pursuant to the "Casino Control Act," P.L.1977, c.110 (C.5:12-1 et seq.) in order to hold the securities of a casino licensee or any holding or intermediary company of a casino licensee may, prior to the acquisition of any such securities, request the issuance of a statement of compliance by the commission that the person is qualified to hold such securities. Any request for the issuance of a statement of compliance pursuant to this paragraph shall be initiated by the person filing a petition with the commission in which the person shall be required to establish that there is a reasonable likelihood that, if qualified, the person will obtain and hold the securities of a casino licensee or any holding or intermediary company thereof to such extent as to require the qualification of the person. If the commission finds that this reasonable likelihood exists, and if the commission is satisfied, after an investigation by the division, that the qualifications of the person have been established by clear and convincing evidence, the commission may, in its discretion, issue a statement of compliance that the person is qualified to hold such securities. Any person who requests a statement of compliance pursuant to this paragraph shall be subject to the provisions of section 80 of P.L.1977, c.110 (C.5:12-80) and shall pay for the costs of all investigations and proceedings in relation to the request unless the person provides to the commission an agreement with one or more casino licensees which states that the licensee or licensees will pay those costs.
(3)A statement of compliance shall not be issued indicating that an applicant that is a corporation or other form of business organization has established by clear and convincing evidence its good character, honesty and integrity unless the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, or the functional equivalent thereof; each director; each person who directly or indirectly holds any beneficial interest or ownership in the applicant, to the extent such person would be required to qualify under section 85 of P.L.1977, c.110 (C.5:12-85) if the applicant were a holding company or intermediary company of a casino licensee; and any other person whom the commission may consider appropriate for approval or qualification, would, but for residence, individually be qualified for approval as a casino key employee pursuant to the provisions of section 89 of P.L.1977, c.110 (C.5:12-89).
b.Any statement of compliance issued under P.L.1977, c.110 (C.5:12-1 et seq.) shall specify:
(1)the particular eligibility criterion satisfied by the applicant or person;
(2)the date as of which such satisfaction was determined by the commission;
(3)the continuing obligation of the applicant or person to file any information required by the commission or division as part of any application for a license or qualification status, including information related to the eligibility criterion for which the statement of compliance was issued; and
(4)the obligation of the applicant or person to reestablish its satisfaction of the eligibility criterion should there be a change in any material fact or circumstance that is relevant to the eligibility criterion for which the statement of compliance was issued.
c.A statement of compliance certifying satisfaction of all of the requirements of subsection e. of section 84 of this act with respect to a specific casino hotel proposal submitted by an eligible applicant may be accompanied by a written commitment from the commission that a casino license shall be reserved for a period not to exceed 30 months or within such additional time period as the commission may, upon a showing of good cause therefor, establish and shall be issued to such eligible applicant with respect to such proposal provided that such applicant (1) complies in all respects with the provisions of this act, (2) qualifies for a casino license within a period not to exceed 30 months of the date of such commitment or within such additional time period as the commission may, upon a showing of good cause therefor, establish, and (3) complies with such other conditions as the commission shall impose. The commission may revoke such reservation at any time it finds that the applicant is disqualified from receiving or holding a casino license or has failed to comply with any conditions imposed by the commission. Such reservation shall be automatically revoked if the applicant does not qualify for a casino license within the period of such commitment. No license other than a casino license shall be reserved by the commission.
d.Any statement of compliance issued pursuant to this section shall be withdrawn by the commission if:
(1)the applicant or person otherwise fails to satisfy the standards for licensure or qualification;
(2)the applicant or person fails to comply with any condition imposed by the commission; or
(3)the commission finds cause to revoke the statement of compliance for any other reason. e.Notwithstanding any other provision of this section, unless otherwise extended by the commission upon application by the recipient and for good cause shown, any statement of compliance issued by the commission pursuant to this section shall expire 48 months after its date of issuance, unless the recipient also has received a commitment for the reservation of a casino license, in which case the statement of compliance shall expire on the same date as the commitment.
f.Any statement of compliance issued by the commission prior to the effective date of this amendatory and supplementary act, P.L.2002, c.65, shall expire in accordance with the provisions of subsection e. of this section as if the statement had been issued on such effective date, unless the statement is otherwise extended, withdrawn or revoked prior to such date in accordance with the provisions of this section.
L.1977,c.110,s.81; amended 1978, c.7, s.14; 1991, c.182, s.21; 1995, c.18, s.22; 2002, c.65, s.13.
