N.M. Admin. Code § 15.1.5.10 - APPLICATIONS, STATEMENTS, AND NOTICES - FORM AND GENERAL REQUIREMENTS

A. Every application, statement, and notice required to be filed under the act or this rule shall be submitted on forms supplied or approved by the board and shall contain such information and documents as specified.

B. The applicant shall file with the application all supplemental forms provided by the board. Such forms require full disclosure of all details relative to the applicant's antecedents, immediate family, habits and character, criminal record, business activities, financial affairs and business associates for the 10-year period immediately preceding the filing date of the application.

C. Upon request of the board, the applicant shall further supplement any information provided in the application. The applicant shall provide all requested documents, records, supporting data, and other information within the time period specified in the request, or if no time is specified, within 30 days of the date of the request. If the applicant fails to provide the requested information within the required time period as set forth in the request or this rule, the board may deny the application unless good cause is shown.

D. An applicant shall submit evidence satisfactory to the board that the applicant is sufficiently capitalized to conduct the business proposed in the application. In determining whether an applicant is sufficiently capitalized, the board shall consider such things as the applicant's annual financial statements and federal tax returns for the preceding three years, whether the applicant has adequate financing available to pay all current obligations, and whether the applicant is likely to be able to adequately cover all existing and foreseeable obligations in the future.

E. All information required to be included in an application shall be true and complete as of the date of board action sought by the applicant. If there is any change in the information contained in the application, the applicant shall file a written amendment in accordance with this rule.

F. The application and any amendments shall be sworn to or affirmed by the applicant before a notary public. If any document is signed by an attorney for the applicant, the signature shall certify that the attorney has read the document and that, to the best of the attorney's knowledge, information and belief, based on diligent inquiry, the contents of the documents supplied are true.

G. The applicant shall cooperate fully with the board and any agent of the board with respect to background investigation of the applicant, including, upon request, making available any and all of its books and records for inspection. The board shall examine the background, personal history, financial associations, character, record and reputation of the applicant, including an applicant seeking a finding of suitability, to the extent the board determines is necessary to evaluate the qualifications and suitability of the applicant.

H. The board shall automatically deny the application of any applicant that refuses to submit to a background investigation as required pursuant to the act and this rule.

I. Neither the state, the board, any agency with which the board contracts to conduct background investigations, or the employees of any of the foregoing, shall be held liable for any inaccurate information obtained through such an investigation.

J. All new applications submitted to the New Mexico gaming control board shall be completed within 120 days of receipt of the application, which time may be extended by the board upon good cause. Failure to complete the application within such time period shall result in the forfeiture of all licensing fees. Applicant shall be required to re-submit a new application with licensing fees should the applicant still wish to pursue licensure.

Notes

N.M. Admin. Code § 15.1.5.10

11/30/98; 15.1.5.10 NMAC - Rn, 15 NMAC 1.5.10, 3/31/00; A, 2/14/02; A, 5/14/04; A, 2/28/05, Adopted by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016