§ 1365 — Conservatorship

New York § 1365

• Jurisdiction: New York
• Law PML: Racing, Pari-Mutuel Wagering and Breeding Law
• Title 8: Miscellaneous Provisions
• Art. 13: Destination Resort Gaming

Text

§ 1365. Conservatorship. 1. Upon revocation or suspension of a gaming\nfacility license or upon the failure or refusal to renew a gaming\nfacility license, the commission may appoint a conservator to\ntemporarily manage and operate the business of the gaming licensee\nrelating to the gaming facility. Such conservator shall be a person of\nsimilar experience in the field of gaming management and, in the case of\nreplacing a gaming facility licensee, shall have experience operating a\ngaming facility of similar caliber in another jurisdiction, and shall be\nin good standing in all jurisdictions in which the conservator operates\na gaming facility. Upon appointment, a conservator shall agree to all\nlicensing provisions of the former gaming licensee.\n 2. A conservator shall, before assuming, managerial or operational\nduties, execute and file a bond for the faithful performance of its\nduties payable to the commission with such surety and in such form and\namount as the commission shall approve.\n 3. The commission shall require that the former or suspended gaming\nlicensee purchase liability insurance, in an amount determined by the\ncommission, to protect a conservator from liability for any acts or\nomissions of the conservator during the conservator's appointment which\nare reasonably related to and within the scope of the conservator's\nduties.\n 4. During the period of temporary management of the gaming facility,\nthe commission shall initiate proceedings under this article to award a\nnew gaming facility license to a qualified applicant whose gaming\nfacility shall be located at the site of the preexisting gaming\nfacility.\n 5. An applicant for a new gaming facility license shall be qualified\nfor licensure under this article; provided, however, that the commission\nshall determine an appropriate level of investment by an applicant into\nthe preexisting gaming facility.\n 6. Upon award of a new gaming facility license, the new gaming\nfacility licensee shall pay the original licensing fee required under\nthis article.\n