13 Miss. Code. R. 2-8.4 - Standards For Action By Executive Director And Commission

The Executive Director and Commission will consider all relevant material facts in determining whether to recommend or grant an approval required or permitted by this regulation. The Executive Director and Commission may consider not only the effects of the action or approval requested by the applicant, but whatever other facts are deemed relevant, including but not limited to the following:

(a) The business history of the applicant, including its record of financial stability, integrity, and success of its operations;

(b) The current business activities and interests of the applicant, as well as those of its executive officers, promoters, lenders, and other sources of financing, or any other individuals associated therewith;

(c) The current financial structure of the applicant, as well as changes which could reasonably be anticipated to occur to such financial structure as a consequence of the proposed action of the applicant;

(d) The gaming-related goals and objectives of the applicant, including a description of the plans and strategy for achieving such goals and objectives;

(e) The relationship between such goals and objectives and the requested approval;

(f) The adequacy of the proposed financing or other action to achieve the announced goals and objectives;

(g) The present and proposed compensation arrangement between the applicant and its directors, executive officers, principal employees, security holders, lenders, or other sources o f financing;

(h) The equity investment, commitment or contribution of present or prospective directors, officers, principal employees, investors, lenders, or other sources of financing;

(i) The dealings and arrangements, prospective or otherwise, between t he applicant and any investment bankers, promoters, finders or lenders, and other sources of financing;

(j) The effect of the proposed action on existing and prospective security holders of the applicant, both before and after the intended action;

(k) Whether the applicant has made full and complete disclosure of all material facts relative to the proposed action to the Executive Director and the Commission and made provision for such disclosure to all prospective security holders;

(l) Whether the proposed action tends not to work a fraud upon the public;

(m) Whether a proposed public offering contains speculative securities;

(n) Whether a proposed transaction will create a significant risk that the publicly traded corporation and its affiliated companies will not:

1. satisfy their financial obligations as they become due; or

2. satisfy all financial and regulatory requirements imposed by the Act and these regulations. (Adopted: 09/25/1991.)

Notes

13 Miss. Code. R. 2-8.4

Miss. Code Ann. § 75-76-29