Montana Code 23-7-310. Disclosures by gaming suppliers
23-7-310. Disclosures by gaming suppliers. (1) A person, firm, association, or corporation that submits a bid or proposal for a contract to supply lottery or sports wagering equipment, tickets, or other material or consultant services for use in the operation of the state lottery shall disclose at the time of the bid or proposal:
Terms Used In Montana Code 23-7-310
- Commission: means the state lottery and sports wagering commission created by 23-7-201. See Montana Code 23-7-103
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Lease: 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Sales agent: means an entity that holds a lottery license or sports wagering license as provided in this chapter. See Montana Code 23-7-103
- Sports wagering: means accepting wagers on sporting events or portions of sporting events, or on the individual performance statistics of athletes in a sporting event or combination of sporting events, by any system or method of wagering, including but not limited to in-person or over the internet through websites and on mobile devices. See Montana Code 23-7-103
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- State lottery: means the Montana state lottery and sports wagering agency created and operated pursuant to this chapter. See Montana Code 23-7-103
- Trustee: A person or institution holding and administering property in trust.
(a)the supplier’s business name and address and the names and addresses of the following:
(i)if the supplier is a partnership, all of the general and limited partners;
(ii)if the supplier is a trust, the trustee and all persons entitled to receive income or benefit from the trust;
(iii)if the supplier is an association, the members, officers, and directors;
(iv)if the supplier is a corporation, the officers, directors, and each owner or holder, directly or indirectly, of any equity security or other evidence of ownership of any interest in the corporation. However, in the case of owners or holders of publicly held equity securities of a publicly traded corporation, only the names and addresses of those owning or holding 5% or more of the publicly held securities must be disclosed.
(v)if the supplier is a subsidiary company, each intermediary company, holding company, or parent company involved with the subsidiary company and the officers, directors, and stockholders of each. However, in the case of owners or holders of publicly held securities of an intermediary company, holding company, or parent company that is a publicly traded corporation, only the names and addresses of those owning or holding 5% or more of the publicly held securities must be disclosed.
(b)if the supplier is a corporation, all the states in which the supplier is authorized to do business and the nature of that business;
(c)other jurisdictions in which the supplier has contracts to supply gaming materials, equipment, or consultant services;
(d)the details of any conviction, state or federal, of the supplier or any person whose name and address are required by subsection (1)(a) of a criminal offense punishable by imprisonment for more than 1 year;
(e)the details of any disciplinary action taken by any state against the supplier or any person whose name and address are required by subsection (1)(a) regarding any matter related to gaming consultant services or the selling, leasing, offering for sale or lease, buying, or servicing of gaming materials or equipment;
(f)audited annual financial statements for the preceding 5 years;
(g)a statement of the gross receipts realized in the preceding year from gaming consultant services and the sale, lease, or distribution of gaming materials or equipment to states operating lotteries and to private persons licensed to conduct gambling, differentiating that portion of the gross receipts attributable to transactions with states operating lotteries from that portion of the gross receipts attributable to transactions with private persons licensed to conduct gambling;
(h)the name and address of any source of gaming materials or equipment for the supplier;
(i)the number of years the supplier has been in the business of supplying gaming consultant services or gaming materials or equipment; and
(j)any other information, accompanied by any documents the commission by rule may reasonably require as being necessary or appropriate in the public interest to accomplish the purposes of this chapter.
(2)A person, firm, association, or corporation contracting to supply gaming equipment or materials or consultant services to the state for use in the operation of the state lottery may not have any financial interest in any person, firm, association, or corporation licensed as a sales agent.
(3)A contract for supplying consultant services or gaming materials or equipment for use in the operation of the state lottery is not enforceable against the state unless the requirements of this section have been fulfilled.