Louisiana Revised Statutes 27:279 – Provisional license to former holder of security interest; gaming device
Terms Used In Louisiana Revised Statutes 27:279
- Board: means the board of directors of the corporation. See Louisiana Revised Statutes 27:205
- Contract: A legal written agreement that becomes binding when signed.
- gaming activities: means the offering or conducting of any game or gaming device in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 27:205
- Gaming device: means any equipment or mechanical, electromechanical, or electronic contrivance, component, or machine used directly or indirectly in connection with gaming or any game which affects the result of a wager by determining win or loss. See Louisiana Revised Statutes 27:205
- License: means an authorization issued to a person by or in the name of the corporation to engage in or assist gaming operations or activities regulated by this Chapter. See Louisiana Revised Statutes 27:205
- Person: means any individual, partnership, association, joint stock association or trust, corporation, or other business entity whether incorporated or not. See Louisiana Revised Statutes 27:205
- Security: means the protection of information that would or could provide an unfair advantage to any individual involved in the operation of the casino gaming; protection and preservation of the integrity of casino gaming games and operations; as well as measures taken to prevent crimes against a gaming operator or the corporation. See Louisiana Revised Statutes 27:205
Any holder of a security interest in a gaming device who asserts the right to ownership or possession of the encumbered property may be granted a one-time, nonrenewable, provisional contract for a maximum of ninety days, for the sole purpose of acquiring ownership or possession for resale to a licensed or approved person or casino operating contractor approved by the board or approved person, all in accordance with rule and regulation to be promulgated by the corporation. The license or contract so granted shall not authorize the holder thereof to operate the gaming device or to utilize the property in gaming activities.
Acts 1992, No. 384, §1, eff. June 18, 1992. Redesignated from La. Rev. Stat. 4:679 by Acts 1996, 1st Ex. Sess., No. 7, §3, eff. May 1, 1996.