Ill. Admin. Code tit. 11, § 402.60 - Application Contents, Substantial Owners
a) Each application for an occupation license
as a concessionaire shall be on forms prescribed by the Board. If the applicant
is a corporation, the application shall disclose, among other things, the names
and addresses of its directors, officers, and owners of substantial beneficial
interest and shall state whether any of these individuals:
1) has been convicted of a crime;
2) has been found guilty of a violation of
the Illinois Horse Racing Act of 1975 or the rules and regulations of the
Board; or
3) has had a permit or
license to operate as a concessionaire at any race track or intertrack wagering
facility in any other state suspended, revoked or denied.
b) A person owning 5% or more of the equity
of an applicant shall be considered a substantial owner for the purposes of
this Section.
Notes
Amended at 37 Ill. Reg. 832, effective January 14, 2013
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