Michigan Laws 432.208c – License as revocable privilege; rights, limitations, and prohibitions; revocation
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(1) A license issued under this act is a revocable privilege granted by the state and is not a property right. Granting a license under this act does not create or vest any right, title, franchise, or other property interest. Each license is exclusive to the licensee, and a licensee or any other person shall apply for and receive the board‘s and city‘s approval before a license is transferred, sold, or purchased, or before a voting trust agreement or other similar agreement is established with respect to the license. A licensee or any other person shall not lease, pledge, or borrow, or loan money against a license. The attempted transfer, sale, or other conveyance of an interest in a license without prior board approval is grounds for suspension or revocation of the license, or other sanction considered appropriate by the board.
(2) Upon the termination of a development agreement between a casino licensee and the city in which the casino is located, the board upon the request of the city shall revoke that licensee’s casino license.
Terms Used In Michigan Laws 432.208c
- Board: means the Michigan gaming control board created under section 4. See Michigan Laws 432.202
- Casino: means a building or buildings in which gaming is conducted. See Michigan Laws 432.202
- City: means a local unit of government other than a county that meets all of the following criteria:
(i) Has a population of at least 800,000 at the time a license is issued. See Michigan Laws 432.202Development agreement: means a written agreement between a city and a person naming the person as the designated developer of a casino in the city and covering certain subjects including, but not limited to, all of the following:
(i) Approval by the city of the location of the casino. See Michigan Laws 432.202Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Person: means an individual, corporation, limited liability company, association, partnership, limited liability partnership, trust, or other legal entity. See Michigan Laws 432.202 state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o