N.M. Admin. Code § 15.1.5.22 - LIMITED USE DISTRIBUTOR'S LICENSE; PROCEDURES

The application procedures for a limited use distributor's license shall be as follows:

A. The applicant shall complete a licensing application prescribed by the board and shall pay the applicable application fee and costs for any background investigation.

B. The applicant shall not transport any gaming machines into the state until a license is granted by the board.

C. The limited use distributor selling the gaming machines and the distributor purchasing the gaming machines shall notify the board on forms prescribed by the board prior to transporting any gaming machines into the state.

D. In addition to the application fee, a limited use distributor shall pay to the board a transaction fee of $1,500 for each transaction in which the limited use distributor sells gaming machines to a distributor prior to completing the transaction.

E. A limited use distributor shall not conduct more than two transactions per license year unless the limited use distributor obtains a distributor's license prior to conducting the third transaction.

F. A limited use distributor may request to convert its limited use distributor's license to a distributor's license by submitting an additional fee of $1,000 plus the costs of conducting a background investigation to the board and completing an application prescribed by the board prior to the expiration of the limited use distributor's license. All fees paid prior to the application for a distributor's license shall be applied to the application.

G. A distributor's license issued as a result of a conversion from a limited use distributor's license shall be valid for one year from the initial limited use licensure.

Notes

N.M. Admin. Code § 15.1.5.22

11/30/98; 15.1.5.22 NMAC - Rn, 15 NMAC 1.5.22, 3/31/00; A, 2/14/02; A, 2/28/05, Adopted by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016