§ 42-7A-43 — Licenses--Background investigation required--Eligibility--Qualifications--Promulgation of rules.

South Dakota § 42-7A-43

• Jurisdiction: South Dakota
• Title 42: RECREATION AND SPORTS
• Ch. 42-6: STATE LOTTERY

Text

A person licensed, or applying for licensure, as a video lottery machine manufacturer, distributor, operator, or lottery retailer shall submit to a background investigation. Every partner, member, manager, director, and officer of the person, and any stockholder of five percent or more in the person, including a parent or subsidiary corporation, is subject to the background investigation. A lottery retailer, and a video lottery machine manufacturer or distributor, shall meet the requirements set forth in §§ 42-7A-13 and 42-7A-14 . A video lottery machine operator shall meet the requirements set forth in §§ 42-7A-13 and 42-7A-14 , and must be a resident of this state. The majority of ownership interest of a person licensed as a video lottery machine operator must be held by residents of the state or by a public company, or its subsidiary, traded on any market regulated or recognized by the United States Securities and Exchange Commission, that was licensed as a video lottery machine operator pursuant to chapter 42-7A prior to January 1, 1997. A copy of any disclosure statement involving ownership of the public company required to be filed with the United States Securities and Exchange Commission must be filed with the lottery commission. An applicant for a license under this chapter has the burden of proving the applicant's qualifications to the satisfaction of the commission and executive director. The commission may adopt rules pursuant to chapter 1-26 to establish additional requirements to preserve the integrity and security of the lottery.

Legislative History

SL 1989, ch 368, § 22; SL 1993, ch 317, § 10; SL 1997, ch 242, § 1; SL 2025, ch 179, § 1.