§ 433a.2. Officers and directors of licensees.
(a) Each officer and director of a licensee shall be licensed as a principal.
(b) Each officer and director of a principal affiliate shall be licensed as a principal.
(c) Each officer and director of a subsidiary of a slot machine licensee shall be licensed as a principal.
(d) Notwithstanding subsection (a) or (b), an outside director of a publicly traded corporation, who is neither a member of the audit committee nor chairperson of the board of directors of the publicly traded corporation shall not be required to be licensed as a principal unless the Board determines that the licensure of the individual is necessary to protect the integrity of gaming in this Commonwealth.
(e) Except as provided in subsection (f), an officer or director required to be licensed under this section shall submit a completed Multi-Jurisdictional Personal History Disclosure Form and the Pennsylvania Supplement to the Multi-Jurisdictional Personal History Disclosure Form within 30 days of performing any duties or exercising any powers as an officer or director unless the officer or director files a written request for an extension with the Bureau of Licensing and the extension is granted prior to the expiration of the 30-day filing deadline.
(f) An officer or director of a privately held slot machine licensee, privately held licensed management company or privately held principal affiliate of a slot machine licensee or licensed management company may not perform any duties or exercise any powers of an officer or director prior to being granted temporary authorization from the Bureau of Licensing. The Bureau of Licensing may grant temporary authorization to a new officer or director of a privately held entity if the individual has submitted a completed Multi-Jurisdictional Personal History Disclosure Form, a completed Pennsylvania Supplement to the Multi-Jurisdictional Personal History Disclosure Form, and fingerprints in a manner prescribed by the Bureau of Investigation and Enforcement.
The provisions of this § 433a.2 amended under 4 Pa.C.S. § § 1202(b)(9), (23) and (30), 1311.1 and 1326.
The provisions of this § 433a.2 amended November 19, 2010, effective November 20, 2010, 40 Pa.B. 6676. Immediately preceding text appears at serial pages (331508) to (331509).
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