GAMING REGULATIONS

BASIS AND PURPOSE FOR RULE 1

The purpose of Rule 1 is to present definitions of various terms used throughout the

rules of the Colorado Limited Gaming Control Commission so that the rules can be

uniformly applied and understood. The statutory basis for Rule 1 is found in sections 44-

30-102 C.R.S., 44-30-103, C.R.S., 44-30-104, C.R.S., 44-30-201, C.R.S., 44-30-203,

C.R.S., and 44-30-302, C.R.S. Amended 2/14/14, Amended 1/14/15

RULE 1

GENERAL RULES AND REGULATIONS

30-101

Purpose and statutory authority.

These Rules and Regulations are adopted by the Colorado Limited Gaming Control

Commission governing the establishment and operation of limited gaming in Colorado

pursuant to the authority provided by article 30, title 44, C.R.S. The Commission will,

from time to time, promulgate, amend and repeal such regulations, consistent with the

policy, objects and purposes of the Colorado Limited Gaming Act (the Act), as it may

deem necessary or desirable in carrying out the policy and provisions of that Act.

Amended 1/14/15

30-102

Construction.

Nothing contained in these regulations shall be so construed as to conflict with any

provision of the Colorado Limited Gaming Act or of any other applicable statute.

30-103

Severability.

If any provision of these regulations be held invalid, it shall not be construed to

invalidate any of the other provisions of these regulations.

30-104

Authorized games.

Limited gaming permitted pursuant to article 30 of title 44, C.R.S., shall include only the

following games: blackjack (21); poker; slot machines; craps; and roulette. All such

games shall be conducted by licensees only in accordance with rules and regulations

promulgated by the Commission.

Code of Colorado Regulations

Secretary of State

State of Colorado

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Division of Gaming

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30-105

Unauthorized gambling.

title 44, C.R.S., shall include only the

following games: blackjack (21); poker; slot machines; craps; and roulette. All such

games shall be conducted by licensees only in accordance with rules and regulations

promulgated by the Commission.

Code of Colorado Regulations

Secretary of State

State of Colorado

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30-105

Unauthorized gambling.

(1)

No licensee shall conduct or permit on its licensed premises any wagering or

gambling, except limited gaming that is conducted according to all the rules and

regulations promulgated by the Commission and except other wagering activities

licensed or approved by an agency of the State of Colorado.

(2)

No person shall make any unauthorized wager or conduct any gambling activity

on licensed premises unless in accordance with the Act, the rules and

regulations promulgated by the Commission, or the laws and regulations

governing other wagering activities which are licensed or approved by an agency

of the State of Colorado.

30-106

Definitions.

The following definitions of terms, in addition to those set forth in section 44-30-103,

C.R.S., shall apply to all rules and regulations promulgated pursuant to article 30 of title

44, of the Colorado Revised Statutes:

(1)

“Agent or Employee of the Commission” shall include all employees of the

Division.

(2)

“Association” means two or more persons united and acting together without a

corporate charter.

(3)

“Background investigation” means the inquiry into the personal history, character,

reputation, associations, personal and professional record, criminal history, civil

litigation history, and financial history and activities of an applicant for a license to

establish the suitability of such applicant to become a licensee. Amended 1/14/15

(4)

“Building” means a common structure that is built or constructed or any piece of

constructed work artificially built up or composed of parts joined together in some

definite manner.

(5)

[Repealed 1/14/15]

inal history, civil

litigation history, and financial history and activities of an applicant for a license to

establish the suitability of such applicant to become a licensee. Amended 1/14/15

(4)

“Building” means a common structure that is built or constructed or any piece of

constructed work artificially built up or composed of parts joined together in some

definite manner.

(5)

[Repealed 1/14/15]

(6)

“Chip” means a nonmetal or partly metal representative of value issued and/or

sold by a licensee for use in limited gaming. Amended 11/30/2012

(a)

Cashable chips are issued and/or sold by the licensee for gaming and are

redeemable for cash.

(b)

Non-cashable chips are issued by the licensee for gaming and are not

redeemable for cash.

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(7)

“Convicted of a Crime” shall include any ultimate finding of fact in a criminal

proceeding that an individual is guilty of a crime, whether the judgment rests on a

verdict of guilty, a plea of guilty, or of nolo contendere, and irrespective of

whether entry of judgment or imposition of sentence is suspended or deferred by

the court.

(8)

“Costs” means sums of money to be paid to the Commission. Amended 1/14/15

(9)

“Credit” means allowing any person any length of time in which to make payment

or otherwise honor a financial obligation, whether express or implied and

includes lending of cash or cash equivalent. Amended 11/30/2012, Amended

1/14/15

Credit instruments include markers, promissory notes, IOUs or similar

transactions or instruments constituting a memorandum of debt accepted for

purposes of participating in limited gaming. excluding checks. Amended

11/30/2012

(a)

“Credit” does not include:

honor a financial obligation, whether express or implied and

includes lending of cash or cash equivalent. Amended 11/30/2012, Amended

1/14/15

Credit instruments include markers, promissory notes, IOUs or similar

transactions or instruments constituting a memorandum of debt accepted for

purposes of participating in limited gaming. excluding checks. Amended

11/30/2012

(a)

“Credit” does not include:

(i)

Transactions in the ordinary course of business which are both

disclosed to the Division and approved by the Commission as

authorized interests, pursuant to sections 44-30-808, 833, C.R.S, or

regulations 30-308, 309, 310, 405, 420;

(ii)

Lawful transactions in the ordinary course of business in which

licensees share resources with each other for business purposes

and in which licensees have no ability to attempt to exert control

over the affairs of other licensees; and

(iii)

Pre-paid magnetized strip cards used in lieu of cash, chips, or

tokens.

(10)

“Dice” means small cubes, each with a different number of spots (1-6) on each

side, used in games of chance to generate random numbers.

(11)

“Drop” means the total amount of money, chips, tickets, purchase tickets,

coupons, Mobile ATM Receipts and tokens removed from the drop boxes.

Amended 7/1/13.

(12)

“Drop box” means a locked container permanently marked with the game and a

number corresponding to a permanent number on the table for blackjack, poker,

craps, and roulette tables. For gaming devices or EBTs, a container in a locked

portion of the gaming device used to collect the money and tokens retained by

the device that is not used to make automatic payouts from the device.

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(13)

“Electronic Chips” means an electronic facsimile of chip representative of value,

redeemable for cash, issued and sold by a licensee when using electronic betting

terminals (EBTs). Eff 03/01/2012

e gaming device used to collect the money and tokens retained by

the device that is not used to make automatic payouts from the device.

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(13)

“Electronic Chips” means an electronic facsimile of chip representative of value,

redeemable for cash, issued and sold by a licensee when using electronic betting

terminals (EBTs). Eff 03/01/2012

(14)

“Electronic Dice” means an electronic facsimile of small cubes, each with a

different number of spots (1-6) on each side in games of chance to generate

random numbers when using electronic betting terminals. Eff 03/01/2012

(15)

“Electronic betting terminal” or EBT means an electronic betting terminal or

interface used on a table game or with a table game system, that allows a patron

to exchange currency, coins, tickets, purchase tickets, or mobile ATM receipts for

electronic chips, and make wagers utilizing those electronic chips. Eff 03/01/2012

(16)

“Financial institution” means a bank, savings and loan association, credit union,

trust company, or other similar entity chartered by the United States, a state, or a

territory or commonwealth of the United States.

(17)

[Free play - Repealed eff. 05/15/2014]

(18)

“Gaming contract” means an agreement in which a person does business with or

on the premises of an entity licensed under article 30 of title 44, C.R.S.

(19)

“Gaming device” or “gaming equipment” includes, in addition to the definition set

forth in section 44-30-103(13), C.R.S., any progressive system, slot monitoring or

control system, ticket redemption kiosk, or cashless system, and also includes

any “physical or electronic versions,” pursuant to section 44-30-103(13), (22),

C.R.S., to the extent such physical or electronic versions function in the manner

of: Eff 04/30/2007, Amended 2/14/14

(a)

Slot machines;

(b)

The games of blackjack, craps, poker, or roulette as defined in section 44-

30-103(6), (10), (25), (29), (30), C.R.S.;

(c)

Tables used for blackjack, craps, poker, and roulette;

s

any “physical or electronic versions,” pursuant to section 44-30-103(13), (22),

C.R.S., to the extent such physical or electronic versions function in the manner

of: Eff 04/30/2007, Amended 2/14/14

(a)

Slot machines;

(b)

The games of blackjack, craps, poker, or roulette as defined in section 44-

30-103(6), (10), (25), (29), (30), C.R.S.;

(c)

Tables used for blackjack, craps, poker, and roulette;

(d)

Cards used to play blackjack or poker; or

(e)

Dice used to play craps.

(20)

“Gaming employee” means, in addition to the definition set forth in section 44-30-

103(14):

(a)

All persons employed by licensed manufacturers or distributors or

associated equipment suppliers who install, repair or maintain gaming

devices or equipment on the premises of licensed operators or retailers,

either directly or by remote access; and Eff 12/30/2008

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(b)

All persons who perform accounting functions, services or duties for any

retailer’s or operator’s business involving the handling, processing,

manipulating or generating of gaming documentation or funds, except

those persons who perform solely, payroll, or payables services who do

not have access to gaming documentation or funds, or those persons who

perform independent audits. [Eff. 12/30/2008]

(21)

“House banked” means a game in which players with winning hands are paid by

the dealer with money from the chip bank on the poker table and/or by hand with

money belonging to the retail licensee. In a house banked game, player's wagers

will not be pulled into a common pot, nor will such a pot be awarded to players

with winning hands.

(22)

“Imprest bank” means a predetermined dollar amount of chips, tokens, or cash

kept by the licensee.

(23)

“Jackpot verification mode” means the period of time between the progressive

jackpot activation of a progressive slot machine and the resetting of the device

which caused its activation.

(24)

“Lammer” or “lammer button” means a chip-like implement with a numeral.

players

with winning hands.

(22)

“Imprest bank” means a predetermined dollar amount of chips, tokens, or cash

kept by the licensee.

(23)

“Jackpot verification mode” means the period of time between the progressive

jackpot activation of a progressive slot machine and the resetting of the device

which caused its activation.

(24)

“Lammer” or “lammer button” means a chip-like implement with a numeral.

(25)

“Licensee” means a person holding any license issued by the Commission, and

an employee, agent, or representative of any such person.

(26)

“Link” means one or more progressive slot machines that are connected to a

progressive controller and that may be played in order to achieve the stated

progressive amount.

(27)

“Matched play” means the use of a coupon at table games that is issued to a

patron by an establishment for play that must be accompanied by a bet. Effective

11/30/2006

(28)

“Mobile ATM Receipt” means a receipt generated by a Table Games Mobile ATM

in exchange for an authorized debit or credit card transaction. A Mobile ATM

Receipt may be exchanged at a table game for physical or electronic chips.

Effective 7/1/13

(29)

“Moral turpitude” means an act done contrary to honesty and good morals; it is

an act of baseness, vileness, or depravity in the private and social duties which a

person owes to an individual or to society in general.

(30)

“Normal mode” means the mode of a progressive slot machine at all times other

than when it is in the jackpot verification mode.

(31)

“Physical skill” means an individual’s physical coordination, agility, or nimbleness,

or lack thereof. Effective 11/30/2007

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cial duties which a

person owes to an individual or to society in general.

(30)

“Normal mode” means the mode of a progressive slot machine at all times other

than when it is in the jackpot verification mode.

(31)

“Physical skill” means an individual’s physical coordination, agility, or nimbleness,

or lack thereof. Effective 11/30/2007

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(32)

“Player banked” means a game in which players with winning hands are awarded

all or part of a pot which consists of pooled antes, blinds, and wagers made by

players playing in the hand. In a player banked game, the bankroll of the retail

licensee is not at risk and is not used to pay winning wagers. The licensee will

maintain only an imprest bank at the table.

(33)

“Progressive controller” means the hardware and software that controls all

communications among the slot machines within a progressive slot machine link

and its associated progressive meter, or among the gaming tables which offer a

metered progressive jackpot within a progressive table game link and its

associated progressive meter.

(34)

“Proposition player” means a person in a poker game paid a fixed sum by the

licensee for the specific purpose of playing in a card game, who uses personal

funds and who retains the winnings and absorbs the losses.

(35)

“Purchase Ticket” means an encoded credit ticket issued at the cashier cage,

kiosk or table game. Effective 10/15/20

(36)

“Side Bet” means an unauthorized wager between or among a player and one or

more other persons which is apart from, or independent of, wagers permitted by

the rules of any approved game or wagering activity.

(37)

“Slot Coupon” means an encoded credit certificate which, when inserted into a

slot machine, is validated by a computerized system which causes redeemable

credits on the face amount to be placed on the machine. A slot coupon has no

value unless inserted into a slot machine or redeemed by the casino in another

approved manner.

rs permitted by

the rules of any approved game or wagering activity.

(37)

“Slot Coupon” means an encoded credit certificate which, when inserted into a

slot machine, is validated by a computerized system which causes redeemable

credits on the face amount to be placed on the machine. A slot coupon has no

value unless inserted into a slot machine or redeemed by the casino in another

approved manner.

(38)

“Strategy card” means a small, hand-held card imprinted with information which

analyzes or suggests the strategy for playing or betting to be used in any

authorized casino game. The card may have a movable dial or slide, but it may

not have any electronic computing or electronic display capability.

(39)

“Substantial interest” means the lesser of: as large an interest in a corporation,

partnership, or association as that of any other shareholder, partner, or principal;

or any financial or equity interest equal to or greater than five percent.

(40)

“Support licensee” means a gaming employee licensed by the Commission, but

does not include licensed key employees.

(41)

“Table Games Mobile ATM” means a mobile payment processing device and

service that allows ATM transactions at a table game. Eff 7/1/13

(42)

“Ticket” means an encoded credit ticket produced by a gaming device, kiosk,

table game or EBT ticket printer system when cashing out redeemable credits.

(30-106(8.3) added perm. 10/30/99)

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(43)

“Tip Storage Device” means a tip storage device, commonly referred to as a toke

tube, used for the purpose of temporarily securing chips received by dealers as

tips. Use of a tip storage device, must be exclusively for temporarily holding said

chips, prior to exchanging lower denomination chips for higher denomination

chips to place into the lockbox. The placement of tips into a tip storage device

prior to exchanging shall be deemed to comply with C.R.S. 44.-30-820, as it

applies to immediately dropping tips. Eff 7/1/13

uring chips received by dealers as

tips. Use of a tip storage device, must be exclusively for temporarily holding said

chips, prior to exchanging lower denomination chips for higher denomination

chips to place into the lockbox. The placement of tips into a tip storage device

prior to exchanging shall be deemed to comply with C.R.S. 44.-30-820, as it

applies to immediately dropping tips. Eff 7/1/13

(44)

“Tournament chip” means a physical or electronic chip issued by a licensee for

use solely in tournaments and promotions at a licensed retail location.

(45)

“Token” means a metal or other approved material representative of value,

redeemable for cash, issued and sold by a licensee for use in gaming. (30-

106(28) amended perm. 10/30/99) Eff 11/30/2006, Amended 11/30/2012

(46)

“Wager” means a sum of money, electronic promotional credits or thing of value

risked on an uncertain occurrence. Credit and debit cards cannot be used to

place a wager in a limited gaming activity. Eff 11/30/2006, Amended 1/14/2012,

Amended 7/1/13

(47)

“Wireless” means a wireless handheld validation unit used with a supporting

Wireless Local Area Network (WLAN) as part of an approved gaming system.

Amended 1/14/15

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BASIS AND PURPOSE FOR RULE 2

The purpose of Rule 2 is to delegate certain authority to the Director or other Division

agent; provide for the review of any action taken pursuant to such authority; provide for

the reference by the Director of matters delegated to the Director back to the

Commission; and to establish procedures for Commission actions and hearings. Rule 2

also empowers the Commission to contract for legal counsel, and directs the Licensee

to obtain moneys owed to a deceased patron and properly distribute such moneys. The

statutory basis for Rule 2 is found in sections 44-30-201, C.R.S., 44-30-203, C.R.S., 44-

30-301, C.R.S., 44-30-302, C.R.S., 44-30-501, C.R.S., 44-30-502, C.R.S., 44-30-507,

C.R.S., 44-30-1103, C.R.S., and 44-30-1702, C.R.S

Rule 2

also empowers the Commission to contract for legal counsel, and directs the Licensee

to obtain moneys owed to a deceased patron and properly distribute such moneys. The

statutory basis for Rule 2 is found in sections 44-30-201, C.R.S., 44-30-203, C.R.S., 44-

30-301, C.R.S., 44-30-302, C.R.S., 44-30-501, C.R.S., 44-30-502, C.R.S., 44-30-507,

C.R.S., 44-30-1103, C.R.S., and 44-30-1702, C.R.S. Amended 1/14/15

RULE 2

POWERS AND DUTIES OF COMMISSION AND DIRECTOR Amended

1/14/15

30-201

Commission action.

In addition to meeting in person, the Commission may take action by telephone or video

conferencing. If telephone or video conferencing is used, the Director must participate in

the meeting and take minutes of the Commission’s action. Telephone or video

conferencing is a meeting of the Commission.

30-202

Recessed meetings.

Any meeting of the Commission may be recessed to consider matters duly noticed as

items on the agenda of that meeting, to such time and place as the Commission may

designate. Notice of a recessed meeting to consider matters duly noticed as items on

the agenda may be given by announcement at the meeting, but where any other

matters are to be considered at a recessed meeting, such matters must be duly noticed

as required by statute.

30-203

Appointment of committees.

The Chairperson of the Commission may at the Chairperson's discretion appoint

committees to study and report to the Division or the Commission on any matter

appropriate to the Commission's administration of the Colorado Limited Gaming Act or

these rules.

30-204

Right of review.

The Commission may review any action taken by the Director by its own motion, by

direction of the Chairperson, or by a request from a member of the Commission, the

Attorney General, the Executive Director or the Governor.

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opriate to the Commission's administration of the Colorado Limited Gaming Act or

these rules.

30-204

Right of review.

The Commission may review any action taken by the Director by its own motion, by

direction of the Chairperson, or by a request from a member of the Commission, the

Attorney General, the Executive Director or the Governor.

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30-205

Right of reference.

The Director, with approval of the Commission, may refer any matters delegated to the

Director back to the Commission for its decision.

30-206

Delegation.

Unless the Commission determines otherwise, the Director may delegate an act

required to be performed by the Director to any agent or employee of the Division.

30-207

Authority of Director.

(1)

The Director may issue key employee and support licenses, without necessity for

Commission approval, to qualified applicants upon submission to the Director of

proper applications, costs, and fees. (30-207 temp. 1/29/92. perm. 4/30/92,

amended 03/30/00)

(2)

The Director may issue temporary key employee and support licenses to

qualified applicants upon the same terms and conditions as temporary licenses

are issued by the Commission to applicants for other types of licenses.

(3)

The Director may deny key employee license applications for any reason that a

support license application may be denied.

(4)

The director may approve the suitability of officers and directors of a licensee,

without necessity for commission approval, provided such officers or directors

have less than five percent ownership equity in the licensee.

(5)

The director may deny the suitability of officers and directors of a licensee or

applicant for any reason that a key license application may be denied.

(6)

The director may approve ownership changes in a licensee, without necessity for

commission approval, when:

(a)

The proposed change only reallocates ownership shares among persons

whom the commission has previously approved as owners; and

e.

(5)

The director may deny the suitability of officers and directors of a licensee or

applicant for any reason that a key license application may be denied.

(6)

The director may approve ownership changes in a licensee, without necessity for

commission approval, when:

(a)

The proposed change only reallocates ownership shares among persons

whom the commission has previously approved as owners; and

(b)

When no person will attain a total effective ownership equity of five

percent or greater, when such person previously held less than five

percent equity.

(7)

All such ownership changes approved by the Director must be reported to the

Commission at the time of the next renewal application of the licensee.

(8)

The Director may authorize a retail gaming license applicant to own, possess, or

own and possess slot machines in this state before obtaining a retail gaming

license. In order for a retail applicant to own, possess, or own and possess slot

machines before licensure, the following conditions must be met:

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(a)

The retail gaming license applicant will submit a request to own, possess,

or own and possess slot machines to the Director; and

(b)

The Director determines if significant progress has been made in the

background investigation, and is satisfied that the investigation of the

applicant conducted thus far, and the application in its entirety, indicate

that the applicant and its gaming business: meet all the requirements of

article 30 of title 44, C.R.S.; do not present any danger to the public or to

the reputation of limited gaming in this state; and that further investigation

most likely will not uncover any derogatory information about the

applicant; and Effective 1/14/15

icant conducted thus far, and the application in its entirety, indicate

that the applicant and its gaming business: meet all the requirements of

article 30 of title 44, C.R.S.; do not present any danger to the public or to

the reputation of limited gaming in this state; and that further investigation

most likely will not uncover any derogatory information about the

applicant; and Effective 1/14/15

(c)

All other requirements to possess slot machines have been met.

30-208

Petition for hearing in an adjudicatory proceeding.

A person aggrieved by an action of the Commission or the Director that was taken

without a hearing may, within 30 days following the date of the action, petition the

Commission for a hearing. The Commission may in its discretion, disallow the petition,

determine that it be treated as one for a declaratory order, or it may grant a hearing to

consider the matters alleged in the petition. If a hearing is granted, the Commission may

direct the petitioner to provide certain information to the Division prior to the hearing or

grant the hearing conditioned upon the fulfillment by the petitioner of other reasonable

terms and conditions. The hearing must be held at a time and place convenient for the

Commission and the petitioner. The hearing shall be considered an adjudicatory

proceeding. The Commission shall issue all decisions in any adjudicatory proceeding in

writing. Commission actions shall be deemed final in such cases upon the mailing of the

decision by first class mail to the petitioner's address listed in the petition.

30-209

Summoning of licensee.

The Commission may summon any licensee or licensee’s agents or employees to

appear to testify before it or its agents with regard to the conduct of the licensee or the

agents or employees of the licensee. The testimony may be under oath and may

embrace any matters which the Commission or its agents consider relevant to the

discharge of its official duties

he petition.

30-209

Summoning of licensee.

The Commission may summon any licensee or licensee’s agents or employees to

appear to testify before it or its agents with regard to the conduct of the licensee or the

agents or employees of the licensee. The testimony may be under oath and may

embrace any matters which the Commission or its agents consider relevant to the

discharge of its official duties. Testimony so taken may be used by the Commission as

evidence in any proceeding or matter then before it or which may later come before it.

Failure to appear and testify fully at the time and place designated, unless excused,

may constitute grounds for disciplinary action against a license held by the person

summoned, that person’s principal or that person’s employer.

30-210

Enforcement powers.

In addition to other powers and duties, the Director or an employee or agent of the

Division by direction of the Director may perform the following activities:

(1)

Without notice, inspect and examine premises where gaming is conducted or

gaming devices or equipment are located, sold, distributed, or stored;

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(2)

Without notice or hearing, examine, inspect, seize or remove from the premises

and impound any gaming devices, equipment or supplies for the purposes of

examination and inspection;

(3)

At any time when business is being conducted, inspect, examine and photocopy,

or remove and impound all records of applicants and licensees;

ored;

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(2)

Without notice or hearing, examine, inspect, seize or remove from the premises

and impound any gaming devices, equipment or supplies for the purposes of

examination and inspection;

(3)

At any time when business is being conducted, inspect, examine and photocopy,

or remove and impound all records of applicants and licensees;

(4)

Investigate the conduct of all licensees, their employees, and other persons

having any involvement with a licensee or licensed establishment, to assist in the

enforcement of article 30 of title 44, C.R.S., and to ensure that there is no

involvement in or with a licensee or a licensed establishment by unqualified or

unsuitable persons.

30-211

Filing or notice.

If a filing or notice to the Commission or Director is permitted or required by these rules,

the filing or notice may be delivered in person or mailed to the Division at 1707 Cole

Blvd., Suite 300, Lakewood, Colorado 80401. A filing or notice is complete on the date it

is received by the Division. Notification to the Division shall be deemed notification to

the Commission for purposes of these rules.

30-212

Attorney for Commission.

The Commission shall contract for legal counsel with the Colorado Attorney General.

30-213

Procedure for issuance, renewal, denial, revocation, suspension,

limitation, and modification of license.

(Deleted effective 8/30/98)

30-214

Death of a gaming patron.

All coins, chips, tokens, gaming coupons, or tickets in the possession of a gaming

patron who dies before such coins, chips, tokens, gaming coupons, or tickets are

surrendered by such patron, shall be paid by the licensee by check drawn upon a

financial institution, chartered by the State of Colorado or any other state or the United

States Government, to the estate of the deceased patron unless the licensee is directed

otherwise pursuant to an appropriate judicial order.

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ing coupons, or tickets are

surrendered by such patron, shall be paid by the licensee by check drawn upon a

financial institution, chartered by the State of Colorado or any other state or the United

States Government, to the estate of the deceased patron unless the licensee is directed

otherwise pursuant to an appropriate judicial order.

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30-215

Responsible gaming grant program. Effective 2/14/23

(1)

Responsible gaming grant program creation.

The Commission shall operate a program to administer grants from the

responsible gaming grant program cash fund. The Commission in collaboration

with the behavioral health administration, shall administer the grant program, and

shall award grants. The program shall provide grants for supporting efforts that

impact, improve and support responsible gaming and problem gambling

programs and the issues that come with increased gaming and gaming options.

The responsible gaming grant program is meant to provide meaningful funding

and encourage prevention, education on gambling addiction, additional gambling

addiction counselors, public awareness, treatment, recovery, data and research.

Additionally, the Commission shall ensure that the grantees use the money for

which the money was awarded and report to the Commission the results of

whether the objectives of the grant were achieved. The terms of gaming and

gambling are synonymous for the purposes of this Rule.

(a)

In addition to any monies appropriated by the general assembly, any

additional funds, grants, gifts and donations received by the Commission

shall be transferred to the state treasurer and credited to the fund.

(b)

The Commission may expend money from the fund to pay direct and

indirect administrative expenses incurred by the Commission in

administering the grant program. The Commission may not expend more

than 5% of the total amount of grant money awarded by the Commission

in that state fiscal year.

onations received by the Commission

shall be transferred to the state treasurer and credited to the fund.

(b)

The Commission may expend money from the fund to pay direct and

indirect administrative expenses incurred by the Commission in

administering the grant program. The Commission may not expend more

than 5% of the total amount of grant money awarded by the Commission

in that state fiscal year.

(c)

Each year at the beginning of the grant application process, the

Commission shall receive a report from the Division on available funds for

that year's grant process.

(d)

To be eligible for the grant process, the applicant must submit their

application in by the Division’s stated deadline, which will be announced

by the Division thirty (30) days in advance. Application deadlines for

subsequent grant distributions, provided that grant money is available,

shall be received by the deadline of that grant year.

(e)

Grant applications shall be reviewed by the Division and presented to the

Commission for its consideration no later than March 1st of the upcoming

calendar year. If for any reason, after releasing the initial grant funding,

the Commission has funds available in the fund, the Commission may, at

it’s sole discretion, decide to take applications for additional grant funding.

If the Commission elects to take additional applications, it shall also set

the time frame for applications and distribution.

(2)

Responsible gaming grant application.

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13

All applications must be received by the Division of Gaming or before the date

set by the Division. Applications will be reviewed by the Division for

completeness, content and eligibility. Applications must include the following

information:

(a)

Information as required on the application on the person, persons,

nonprofit or governmental entity making application;

(b)

The amount of grant money requested by the eligible applicant;

d by the Division of Gaming or before the date

set by the Division. Applications will be reviewed by the Division for

completeness, content and eligibility. Applications must include the following

information:

(a)

Information as required on the application on the person, persons,

nonprofit or governmental entity making application;

(b)

The amount of grant money requested by the eligible applicant;

(c)

How the eligible applicant will spend the grant money to address problem

gambling or increase awareness of responsible gaming;

(d)

The timeline for spending any awarded grant money, and the programs

expected milestones during that timeline;

(e)

Information concerning any current or past projects in which the eligible

applicant has participated that addressed responsible gambling or

problem gaming;

(f)

Acknowledge that the grant applicant or if the applicant is a nonprofit, that

the applicant and any board members are not fundamentally opposed to

gaming; and

(g)

Acknowledge that the grant applicant or if the applicant is a nonprofit, that

the applicant and/or a majority of board members are not affiliated with a

person licensed under article 44-30 of Title 44, C.R.S.

(3)

Reviewing responsible gaming grant applications and criteria for awarding

grants.

When awarding grants, the Commission shall employ a process for collaboration

with the behavioral health administration. In consideration of awarding grants, the

Commission shall consider the following criteria:

(a)

The current needs of the state relating to responsible and/or problem

gambling;

(b)

The overall impact that the proposed grant may have on responsible

gaming or problem gambling;

(c)

The amount of money in the fund;

(d)

Whether the eligible applicant intends to use grant money for any of the

following purposes:

ideration of awarding grants, the

Commission shall consider the following criteria:

(a)

The current needs of the state relating to responsible and/or problem

gambling;

(b)

The overall impact that the proposed grant may have on responsible

gaming or problem gambling;

(c)

The amount of money in the fund;

(d)

Whether the eligible applicant intends to use grant money for any of the

following purposes:

(i)

Prevention or education services concerning gambling addiction:

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(ii)

Certification of gambling addiction counselors;

(iii)

Public awareness of services concerning gambling addiction;

(iv)

Treatment of gambling addiction disorders;

(v)

Recovery services;

(vi)

Data reporting and data systems;

(vii)

Research for problem gambling or gambling addiction; and

(ix)

Costs associated with research for problem gaming or gambling

addiction.

(e)

When considering the current needs of the state related to responsible

gaming and/or problem gambling, the Commission may establish

additional purposes for awarding grants;

(4)

Duties and responsibilities of the grantee.

The following are the duties and responsibilities of the grantee during the

calendar year grant money was awarded:

(a)

Grantees shall use grant money only for the purpose for which the grant

money was awarded;

(b)

On or before September 1st each year, each grantee shall submit a report

for each approved grant to the Commission for the previous grant period

year. At a minimum, the report must include the following information:

and responsibilities of the grantee during the

calendar year grant money was awarded:

(a)

Grantees shall use grant money only for the purpose for which the grant

money was awarded;

(b)

On or before September 1st each year, each grantee shall submit a report

for each approved grant to the Commission for the previous grant period

year. At a minimum, the report must include the following information:

(i)

An indication of whether the grantee achieved or is making

significant progress in achieving the objectives the grantee

described in its application or a grant;

(ii)

Evaluation of the results of the grantee's grant-funded project;

(iii)

A description of the impact of the grantees use of grant money on

the community with regards to responsible gaming and/or problem

gambling;

(iv)

Total amount of the grant money received and the total amount of

grant money expended by the grantee; and

(v)

Any additional reporting requirements required by the Commission

when the grant was awarded;

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(c)

Prior to any grant money being dispersed, once the Commission has

made it’s grant decisions, grantees must cooperate to finalize all state

purchasing contract paperwork.

(5)

Reporting responsibilities of the Commission and Division.

(a)

On or before December 1 each grant period year, the Commission shall

create and submit a summarized report in accordance with C.R.S. 44-30-

1702(7)(b). At a minimum the report must include the following

information:

ommission has

made it’s grant decisions, grantees must cooperate to finalize all state

purchasing contract paperwork.

(5)

Reporting responsibilities of the Commission and Division.

(a)

On or before December 1 each grant period year, the Commission shall

create and submit a summarized report in accordance with C.R.S. 44-30-

1702(7)(b). At a minimum the report must include the following

information:

(i)

Total number of grants, and the total amount of grant money,

awarded by the Commission in the preceding state fiscal year;

(ii)

The identity of each grantee and the total amount of grant money

awarded to each grantee in the preceding state fiscal year;

(iii)

The information reported by each grantee pursuant to 30-215 (4);

and

(iv)

Financial statements concerning the status of, and activities

concerning, the responsible gaming grant fund.

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BASIS AND PURPOSE FOR RULE 3

The purpose of Rule 3 is to establish and provide the specific information required on

license applications; to establish yearly license fees for each type of license; to establish

nonrefundable application fees; to establish investigation fees for certain applicants and

deposit procedures for investigation fees; to establish procedures for conducting

background checks on applicants and other interested persons and assessing the costs

of such background checks; to require certain information regarding the premises the

applicant wishes to be licensed, and to provide a procedure for approval of

modifications of such premises; and to provide for the issuance of conditional,

temporary, and duplicate licenses. The statutory basis for Rule 3 is found in sections

44-30-102, C.R.S., 44-30-103, C.R.S., 44-30-201, C.R.S., 44-30-203, C.R.S., 44-30-

302, C.R.S., and part 5 of article 30 of title 44, C.R.S. Amended 1/14/15

RULE 3

APPLICATIONS, INVESTIGATIONS AND LICENSURE

30-301

Qualifications for licensure.

To qualify for licensure an applicant must:

(1)

Be at least 18 years of age;

ry, and duplicate licenses. The statutory basis for Rule 3 is found in sections

44-30-102, C.R.S., 44-30-103, C.R.S., 44-30-201, C.R.S., 44-30-203, C.R.S., 44-30-

302, C.R.S., and part 5 of article 30 of title 44, C.R.S. Amended 1/14/15

RULE 3

APPLICATIONS, INVESTIGATIONS AND LICENSURE

30-301

Qualifications for licensure.

To qualify for licensure an applicant must:

(1)

Be at least 18 years of age;

(2)

Possess a suitable character as determined by the Director or the Commission;

(3)

Possess premises to be used for gaming that are deemed suitable by the

Commission and that satisfy all health and safety requirements; and

(4)

Comply with all specific laws, rules and regulations regulating limited gaming in

Colorado, and any other regulatory or taxing authority.

30-302

Applications.

(1)

An applicant for any type of license must apply on forms provided by the Division.

Such application forms shall be completed under penalty of perjury. The

application forms may include questions concerning the following:

(a)

Personal background information;

(b)

Financial information;

(c)

Participation in legal or illegal activities in Colorado or other jurisdictions,

including foreign countries;

(d)

Criminal record information;

(e)

Information concerning all pecuniary and equity interests in the applicant;

and

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(f)

Other information as required.

The application forms shall be accompanied and supplemented by such

documents and information as may be specified or required. Failure to supply the

information requested within five days after the request has been made by the

Division constitutes grounds for delaying consideration of the application.

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(f)

Other information as required.

The application forms shall be accompanied and supplemented by such

documents and information as may be specified or required. Failure to supply the

information requested within five days after the request has been made by the

Division constitutes grounds for delaying consideration of the application.

(2)

Renewal applications for manufacturer-distributor, associated equipment

supplier, operator, and retail license must be received by the Division 120 days

before the expiration of the current license. Renewal applications for support

employee and key employee licenses must be received by the Division 30 days

before the expiration of the current license. Renewal applicants who fail to submit

their completed applications when due shall not be considered to have made a

timely and sufficient application for renewal, as such term is used in 24-4-104(7)

C.R.S. (30-302(2) Perm. 10/30/96) Amended 2/14/14

(3)

Applicants, licensees, and others who submit documents to the Division or the

Commission in connection with any investigation or inquiry are advised to keep a

complete and detailed record of all such submissions. Once submitted, the

documents become part of the Division’s investigative files and work papers, and

are presumed to be confidential and protected pursuant to section 44-30-526,

C.R.S. Because of the inconvenience to the Division in segregating this

information from the investigative files, and in filtering confidential materials,

disclosure to the person who initially submitted the record is not favored. The

Commission may grant such a request only upon a showing of compelling cause.

(30-302.3 effective 8/30/98)

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18

30-303

License fees.

A non-refundable license fee for a two-year license must accompany an application for

licensure in the following amounts: Eff 08/06/2008

re to the person who initially submitted the record is not favored. The

Commission may grant such a request only upon a showing of compelling cause.

(30-302.3 effective 8/30/98)

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30-303

License fees.

A non-refundable license fee for a two-year license must accompany an application for

licensure in the following amounts: Eff 08/06/2008

(1)

Original and renewal Type 1 slot machine manufacturer or

distributor license

$3,700.

00

(2)

Original and renewal Type 2 slot machine manufacturer or

distributor license

$7,400.

00

(3)

Original and renewal Type 1 associated equipment supplier

license

$3,700.

00

(4)

Original and renewal Type 2 associated equipment supplier

license

$7,400.

00

(5)

Original and renewal Type 1 operator license

$3,700.

00

(6)

Original and renewal Type 2 operator license

$7,400.

00

(7)

Original and renewal Type 1 retail gaming license

$5,500.

00

(8)

Original and renewal Type 2 retail gaming license

$8,000.

00

(9)

Original key employee license - fingerprinted by the Division*

$275.00

(10)

Original key employee license - fingerprinted by outside vendor*

$235.00

(11)

Original support employee license - fingerprinted by the

Division*

$115.00

(12)

Original support employee license - fingerprinted by outside

vendor*

$75.00

(13)

Renewal key employee license

$215.00

(14)

Renewal support employee license

$70.00

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sion*

$275.00

(10)

Original key employee license - fingerprinted by outside vendor*

$235.00

(11)

Original support employee license - fingerprinted by the

Division*

$115.00

(12)

Original support employee license - fingerprinted by outside

vendor*

$75.00

(13)

Renewal key employee license

$215.00

(14)

Renewal support employee license

$70.00

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*Applicants for Key and Support licenses are required to be fingerprinted. Applicants

may choose to be fingerprinted by the Division or by an approved outside vendor.

Outside fingerprinting vendors will determine their own fees for this service.

(30-303(6 & 7) temp. 06/21/95, perm. 10/30/95) (30-303 temp. 7/1/96 perm. September

30, 1996, 30-303 (5 & 7) amended temp 07/01/00 perm 07/30/00) Eff 08/06/2008,

Amended 11/30/2012, Amended 2/14/14, Amended 7/1/15, Amended 7/1/20.

When a key employee license or support employee license expires prior to renewal, the

applicant for re-licensure shall file an original license application and shall pay the fee

for an original application, and the Division shall process the application as an original

license application. Eff 08/06/2008

The license fee may be pro-rated for any license issued for a term shorter than two

years. Eff 08/06/2008

The terms “Type 1” and “Type 2” shall have the same meaning as provided in

Regulation 30-305. Eff 08/06/2008

30-304

Application fees. [Repealed]

[Repealed effective August 6, 2008]

30-305

Investigation fees.

(1)

All applicants for licenses and persons seeking approval of variation games of

blackjack, poker, craps, roulette, blackjack-poker combination games and table

games with electronic betting terminals, except support licenses, shall pay the

costs of investigations into their backgrounds, suitability, and qualifications for

licensure. Eff 04/01/2007 Amended 11/30/2012

8]

30-305

Investigation fees.

(1)

All applicants for licenses and persons seeking approval of variation games of

blackjack, poker, craps, roulette, blackjack-poker combination games and table

games with electronic betting terminals, except support licenses, shall pay the

costs of investigations into their backgrounds, suitability, and qualifications for

licensure. Eff 04/01/2007 Amended 11/30/2012

(a)

The cost of such investigations shall be at the rate of $84.00 per hour for

each hour spent by investigators of the Division, the Colorado Bureau of

Investigation, or the Department of Revenue investigating the applicants

until the conclusion of the investigation. .Eff 7/1/2011, (30-305 (1)(a)

amended temp. 7/1/16, amended perm. 7/16/16), (30-305 (1)(a) amended

temp. 7/1/17, amended perm. 7/30/17), (Amended 7/1/19)

(b)

All such applicants shall also pay the Division for the following actual costs

incurred in conducting the background investigations: transportation;

lodging; meals, and other expenses associated with traveling; significant

office expense; document reproduction costs, preparation time; time

necessary for administration of the investigation (including additional

staffing on a temporary basis); and other similar expenses incurred until

the conclusion of the investigation. Eff 04/01/2007

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(c)

An investigation concludes upon the issuance by the Commission of an

initial order concerning the issuance or denial of the license, upon the

issuance by either the Commission or the Division of an order approving

the withdrawal of the application, or upon the issuance by the Division of

an order of denial of the license which is not appealed to the Commission.

(2)

Before any such investigations are conducted, each applicant shall pay a deposit

to the gaming fund as follows: Eff 04/01/2007

the issuance or denial of the license, upon the

issuance by either the Commission or the Division of an order approving

the withdrawal of the application, or upon the issuance by the Division of

an order of denial of the license which is not appealed to the Commission.

(2)

Before any such investigations are conducted, each applicant shall pay a deposit

to the gaming fund as follows: Eff 04/01/2007

(a)

For each Type 1 original applicant, the deposit shall be $5,000.00. For

purposes of the deposit requirement, a Type 1 Applicant consists of either

a single person, or an organization where the total number of all officers,

directors, general partners, and five percent or more stockholders or

equity owners totals 6 or less. In addition, all the aforementioned persons

must reside in Colorado. Eff 04/01/2007

(b)

For each Type 2 original applicant, the deposit shall be $10,000.00. Type

2 Applicants consist of all applicants other than Type 1 Applicants.

(c)

For each person who applies for a key employee license, and who is not

an officer, director, general partner or five percent equity owner of an

applicant, the deposit shall be $1,000.00. Eff 04/01/2007

(d)

For each officer, director, general partner or five percent equity owner of

an applicant who applies for suitability separate from the original

application or a change of ownership application, the deposit shall be

$1,000.00. Eff 04/01/2007

(e)

For each change of ownership application involving more than an

aggregate five percent effective ownership change, the deposit shall be

$2,500.00. (30-305 amended perm. 10/30/99) Eff 04/01/2007

rtner or five percent equity owner of

an applicant who applies for suitability separate from the original

application or a change of ownership application, the deposit shall be

$1,000.00. Eff 04/01/2007

(e)

For each change of ownership application involving more than an

aggregate five percent effective ownership change, the deposit shall be

$2,500.00. (30-305 amended perm. 10/30/99) Eff 04/01/2007

(f)

For each variation game applicant and table game with electronic betting

terminal (EBT) applicant, the deposit shall be $2,000.00. The Director may

waive the background investigation and accompanying deposit for an

applicant who has already been found suitable by the Commission or by

the Division. Eff 1/14/2015

(3)

As expenses are incurred, the Division shall draw upon the respective deposits in

the gaming fund. Upon request, a statement of costs, draws upon deposit, and

deposit balance shall be sent to the applicant making the request.

(4)

When a deposit balance approaches zero dollars, or is forecasted to reach zero

dollars due to anticipated or known expenses which will be incurred in the future,

the Division may request a further deposit of an amount sufficient to cover the

anticipated expenses and which will prevent the account balance from becoming

negative. Until receipt of such further deposit, investigation of the application may

cease.

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21

(5)

Where an applicant disputes any investigative charges, or the necessity for

further deposits, the applicant may request relief from the Commission, by

declaratory order or other appropriate motion, regarding the matters in dispute.

(6)

No license, finding of suitability, or other approvals sought, shall be issued until

payment for the full amount of any negative deposit balance has been received

from the applicant. Eff 04/01/2007

nvestigative charges, or the necessity for

further deposits, the applicant may request relief from the Commission, by

declaratory order or other appropriate motion, regarding the matters in dispute.

(6)

No license, finding of suitability, or other approvals sought, shall be issued until

payment for the full amount of any negative deposit balance has been received

from the applicant. Eff 04/01/2007

(7)

Within 90 days of the conclusion of the investigation, any deposit balance shall

be returned to the applicant. A statement of costs, also called an account detail

report, draws upon deposit, and deposit balance shall accompany the return of

the deposit balance to the Applicant. Eff 04/01/2007

30-305.5

Table game review fees.

(Paragraphs 30-305.5 (1), (2), and (3) relocated to 30-325 and renumbered to

paragraphs (1), (2), and (4).) Effective 1/14/2015

30-306

Background checks.

Applicants for licenses, finding of suitability, or other approvals sought, shall provide all

information requested by their application forms and all other information which the

Division may deem necessary. The Division shall examine the backgrounds, personal

history, financial associations, character, record, and reputation of applicants, and

persons associated with applicants, to the extent the Division in its discretion

determines is necessary to evaluate the qualifications and suitability of applicants for

licensure.

30-307

Waiver of privilege.

An applicant may claim any privilege afforded by the Constitution of the United States,

or of the State of Colorado in refusing to answer questions by the Division and the

Commission. However, a claim of privilege with respect to any testimony or evidence

pertaining to an application may constitute sufficient grounds for denial of an application

or revocation of a license.

30-308

Regulation of ownership interests

claim any privilege afforded by the Constitution of the United States,

or of the State of Colorado in refusing to answer questions by the Division and the

Commission. However, a claim of privilege with respect to any testimony or evidence

pertaining to an application may constitute sufficient grounds for denial of an application

or revocation of a license.

30-308

Regulation of ownership interests.

The Director may require any person having an interest in a license or an applicant to

complete an application requiring background information, sources of funding, and a

sworn statement that the interested person or applicant is not holding such interest for

another party. The Commission may, in its discretion, require any person having an

interest in any licensee to undergo a full background investigation. The Commission

may further require the licensee to pay for that background investigation under the

same terms and conditions as an applicant for a license.

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30-309

Property report.

(1)

Definitions. In addition to the terms defined in the Colorado Limited Gaming

Control Act and the rules thereunder, the following definitions shall apply in these

rules:

(a)

“Lessor” means any person who leases or rents any property, real or

personal, to an operating licensee or to a person who, in turn, leases or

rents property to a retail licensee; and

(b)

“Lease” means any formal or informal, written or oral, contract or

understanding or arrangement whereby any operating licensee obtains the

use or possession of any property, real or personal, to be used, occupied,

or possessed in connection with any gaming establishment. The term

“lease” includes, without limitation, payments made to an affiliated,

controlled or not controlled, controlling or not controlling, person under a

real property lease, a personal property lease, an unsecured note, a deed

of trust, a mortgage, or a trust indenture.

possession of any property, real or personal, to be used, occupied,

or possessed in connection with any gaming establishment. The term

“lease” includes, without limitation, payments made to an affiliated,

controlled or not controlled, controlling or not controlling, person under a

real property lease, a personal property lease, an unsecured note, a deed

of trust, a mortgage, or a trust indenture.

(2)

The applicant or licensee shall report to the Division or Commission all leases to

which it is a party not later than 30 days after the effective date of the lease and

shall include the following information:

(a)

The name, address, and a brief statement of the nature of the business of

the lessor;

(b)

A brief description of the material terms of the lease;

(c)

A brief description of any business relationships between the operating

licensee and the lessor other than by the lease; and

(d)

A copy of the lease.

(3)

Every person who is a party to any lease with an applicant for a license, or with a

licensee, upon request of the Commission or the Director shall promptly provide

all information requested. Information which any such persons are required to

provide includes information concerning financial history; financial holdings; real

and personal property ownership; interests in other companies; criminal history;

personal history and associations; character; reputation in the community; and all

other information which might be relevant to a determination of whether such

persons would be suitable for licensing by the Commission.

(4)

Failure to provide all information requested, as provided in subparagraph (3)

above, shall constitute sufficient grounds, without more, for the Commission or

the Director to require a licensee or applicant to terminate its lease with any

person who failed to provide the information requested.

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able for licensing by the Commission.

(4)

Failure to provide all information requested, as provided in subparagraph (3)

above, shall constitute sufficient grounds, without more, for the Commission or

the Director to require a licensee or applicant to terminate its lease with any

person who failed to provide the information requested.

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(5)

Every licensee or applicant requested by the Commission or Director to terminate

its lease with any person pursuant to this regulation must immediately terminate

its lease and may not enter into a new lease with such person, or anyone

affiliated with such person, without the approval of the Commission or Director.

(6)

Periodic reports. The applicant or licensee shall report to the Division changes in

any lease within 30 days after such changes occur.

30-310

Gaming contracts.

(1)

An applicant for licensing or a licensee, upon the request of the Commission or

the Director, must submit copies of all written gaming contracts and summaries

of all oral gaming contracts to which it is a party or intends to become a party.

The Director or the Commission may review the contracts and require changes in

the contracts before an application is approved or participation in the contract is

allowed. The Commission or Director may require a licensee to end the

licensee’s participation in a gaming contract.

(2)

Every person who is a party to any gaming contract with an applicant for a

license, or with a licensee, upon request of the Commission or the Director shall

promptly provide to the Director all information which may be requested

concerning: financial history; financial holdings; real and personal property

ownership; interests in other companies; criminal history; personal history and

associations; character; reputation in the community; and all other information

which might be relevant to a determination whether a person would be suitable

for licensing by the Commission.

the Director all information which may be requested

concerning: financial history; financial holdings; real and personal property

ownership; interests in other companies; criminal history; personal history and

associations; character; reputation in the community; and all other information

which might be relevant to a determination whether a person would be suitable

for licensing by the Commission.

(3)

Failure to provide all information requested, as provided in subparagraph (2)

above, shall constitute sufficient grounds, without more, for the Commission or

the Director to require a licensee or applicant to terminate its gaming contract

with any person who failed to provide the information requested.

(4)

Every licensee or applicant requested by the Commission or Director to terminate

its gaming contract with any person pursuant to this regulation must immediately

terminate its gaming contract and may not enter into a new gaming contract with

such person, or anyone affiliated with such person, without the approval of the

Commission or Director.

30-311

Untrue statements.

The Commission or the Director may refuse to grant a license to an applicant who

makes deliberate misstatements, deliberate omissions, misrepresentations, or untruths

in the application or in connection with the applicant’s background investigation. Such

conduct may also form the basis for criminal charges against the applicant.

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30-312

Qualifying licensee, manager, or agent.

A license may not be granted unless the applicant designates in the application a

person who will be the manager or agent for the licensee. The manager or agent is the

person whom the Commission, Division, or their agents may contact on behalf of the

licensee.

30-313

Licensed premises - location.

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30-312

Qualifying licensee, manager, or agent.

A license may not be granted unless the applicant designates in the application a

person who will be the manager or agent for the licensee. The manager or agent is the

person whom the Commission, Division, or their agents may contact on behalf of the

licensee.

30-313

Licensed premises - location.

(1)

Each application for a retail license shall include an 8 1/2” x11” drawing to scale

of the building, and each floor thereof, in which limited gaming shall be

conducted. The application shall include the total square footage of the building.

The square footage of a building shall be the gross building area (“GBA”). GBA is

the total floor area of a building, excluding unenclosed areas, measured from the

exterior of the walls. It includes both the superstructure floor area and the

substructure or basement area.

(2)

Each application shall include a diagram, outlined in red, of the proposed

licensed premises on each floor within the building. No limited gaming shall be

conducted or permitted outside of the licensed premises. All persons participating

in limited gaming must stand or sit within the licensed premises; and no licensee

shall permit any person to conduct or participate in limited gaming who is not

within the licensed premises. All slot machines, table games and keno kiosks

offered for use by the public, and all dealers and patrons playing such devices,

must be located within the licensed premises. The total square footage

comprising the licensed premises:

(a)

Shall not exceed 35 percent of the total square footage of the building as

determined in subparagraph (1) above; and

(b)

Shall not exceed 50 percent of the square footage of any one floor; and

s and keno kiosks

offered for use by the public, and all dealers and patrons playing such devices,

must be located within the licensed premises. The total square footage

comprising the licensed premises:

(a)

Shall not exceed 35 percent of the total square footage of the building as

determined in subparagraph (1) above; and

(b)

Shall not exceed 50 percent of the square footage of any one floor; and

(c)

All square footage utilized in the computation of these percentages must

be confined to the commercial districts of Central City, Black Hawk or

Cripple Creek as defined in Article XVIII, Section 9 (3)(a) of the Colorado

Constitution.

The square footage of a floor in any building shall be the rentable area of a floor.

In calculating the area comprising the licensed premises on any floor, the

licensee shall use the rentable area. The rentable area is computed by

measuring to the inside finish of permanent outer building walls, or to the glass

line if at least 50 percent of the outer building wall is glass, to the office side of

corridors and/or permanent partitions, and to the center of partitions that

separate the premises from adjoining rentable areas. No deductions can be

made for columns and projections necessary to the building.

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(3)

On each floor of the building in which limited gaming will take place, the licensed

premises may consist of more than two non-contiguous areas as approved by

the Director. Within the licensed premises, a licensee may arrange gaming

equipment or devices at the discretion of the licensee without notice to the

Division. Nothing in this section, however, shall be construed to permit violation

of any fire safety, health or building codes by any licensee. The licensed

premises must be clearly marked as such so that the patrons of each retail

gaming establishment can readily discern the licensed premises. Amended

11/30/2012

30-314

Licensed premises - safety requirements

of the licensee without notice to the

Division. Nothing in this section, however, shall be construed to permit violation

of any fire safety, health or building codes by any licensee. The licensed

premises must be clearly marked as such so that the patrons of each retail

gaming establishment can readily discern the licensed premises. Amended

11/30/2012

30-314

Licensed premises - safety requirements.

Each applicant for a retail gaming license shall file with the Division as part of its

application the following: a certificate of compliance approved by the local fire and

building officials which has been approved, or deemed approved, by the Colorado

Division of Fire Prevention and Control; a statement by the respective municipal

governing body, or its designee, that the building in which limited gaming will take place

conforms to the appropriate architectural styles and designs; and a written statement by

the appropriate local official that handicapped access to the licensed premises has been

provided.

30-315

Withdrawal of application.

(1)

A request for withdrawal of an application may be made at any time prior to final

action upon the application by the Division by filing a written request to withdraw

with the Division. Final action by the Division upon an application occurs when

the Division forwards its recommendation to the Commission concerning the

application.

(2)

The Division may, in its discretion, deny the request, or grant the request with or

without prejudice.

ion may be made at any time prior to final

action upon the application by the Division by filing a written request to withdraw

with the Division. Final action by the Division upon an application occurs when

the Division forwards its recommendation to the Commission concerning the

application.

(2)

The Division may, in its discretion, deny the request, or grant the request with or

without prejudice.

(3)

If a request for withdrawal is granted with prejudice, the applicant is not eligible to

apply again for licensing or approval until after expiration of 1 year from the date

of such withdrawal.

30-316

Notice of meeting.

Notice will be given by the Division to all applicants for slot machine manufacturer or

distributor licenses, associated equipment supplier licenses, operator licenses, or retail

gaming licenses of the time and place when their applications for gaming licenses will

come before the Commission for consideration. Such applicants may attend the

meetings of the Commission. The Commission will notify each applicant of the

disposition of the application. (30-316 temp. 9/30/91, perm. 11/30/91) Amended

2/14/14, Amended 1/14/2015

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30-317

Recommendation and order.

After completion of its investigation respecting application, the Division will issue an

order recommending the approval or denial of the application. If the order recommends

that an application be denied, the order will be accompanied by written reasons upon

which the order is based. All such orders and reasons will be made public, and no

recommendation will be secret.

30-318

Licenses premises-modification.

Any retail licensee may change the configuration of its licensed premises upon prior

approval of the Division. Application to modify the licensed premises must be made on

forms furnished by the Division

r will be accompanied by written reasons upon

which the order is based. All such orders and reasons will be made public, and no

recommendation will be secret.

30-318

Licenses premises-modification.

Any retail licensee may change the configuration of its licensed premises upon prior

approval of the Division. Application to modify the licensed premises must be made on

forms furnished by the Division. No application to modify the licensed premises of any

licensee shall be approved unless the licensed premises as modified, meets all the

requirements of article 30 of title 44, C.R.S., and the rules and regulations promulgated

thereunder. Amended 11/30/2012

30-318.5

Licenses premises - temporary closure.

A retailer may temporarily close its licensed premise for purposes of licensed premises

reconstruction upon prior written approval of the Commission.

(1)

Any retailer, who has operated at its current location for at least 365 days, may

submit an application to temporarily close a licensed premises for purposes of

reconstructing the licensed premises, using a form furnished by the Division. The

form must be submitted at least 60 calendar days prior to commencing the

reconstruction.

(2)

At the minimum, a retailer must provide the following information to the Division

and the Commission when requesting a temporary closure of a licensed

premises for purposes of reconstruction:

(a)

A copy of the submitted request for a building permit or a copy of the

building permit received from the local city and/or county;

(i)

If a retailer submits a copy of the request for a building permit

initially, the retailer must submit a copy the approved building

permit to the Division within 7 calendar days of receipt of the

building permit from the local city and/or county;

(b)

Detailed plans for the remodeling and/or rebuilding, including a description

of any anticipated construction phases;

(c)

The reason(s) for the reconstruction;

(d)

The anticipated timeline for the proposed reconstruction;

ially, the retailer must submit a copy the approved building

permit to the Division within 7 calendar days of receipt of the

building permit from the local city and/or county;

(b)

Detailed plans for the remodeling and/or rebuilding, including a description

of any anticipated construction phases;

(c)

The reason(s) for the reconstruction;

(d)

The anticipated timeline for the proposed reconstruction;

(e)

The anticipated date of completion of the reconstruction;

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(f)

Whether the licensed premise will need to be closed for the entire period

of the reconstruction or whether the retailer is also seeking a modification

to its licensed premise under Regulation 30-318 for a portion of the

reconstruction period; and

(g)

Any other information requested in the form furnished by the Division.

(3)

The Division and the Commission may request additional information from the

retailer prior to making a decision on whether or not to grant the temporary

closure.

(a)

If a retailer fails to provide information requested by the Division and the

Commission, the request will be denied as incomplete either by the

Division or the Commission.

(4)

Temporary closures of a retailer’s licensed premise may only last up to 270

calendar days from the date that the closure begins for purposes of

reconstruction.

(a)

At least 30 days before the expiration of the 270 calendar day period, a

retailer may petition the Commission to extend the temporary closure

beyond 270 calendar days upon a showing of good cause. The

Commission determines whether sufficient good cause exists to grant the

petition.

(5)

Any retailer, regardless of how long its licensed premise has been in operation,

may petition the Commission to commence an immediate temporary closure of

its licensed premise for reconstruction if its licensed premise was damaged due

to a natural disaster.

yond 270 calendar days upon a showing of good cause. The

Commission determines whether sufficient good cause exists to grant the

petition.

(5)

Any retailer, regardless of how long its licensed premise has been in operation,

may petition the Commission to commence an immediate temporary closure of

its licensed premise for reconstruction if its licensed premise was damaged due

to a natural disaster.

(a)

Natural disaster means fire, freeze, flood, earthquake, lightning, or other

natural occurrence of such magnitude or severity so as to be considered

disastrous, as determined by the Commission.

(b)

In instances where a retailer’s licensed premise was destroyed or

damaged by a natural disaster, the Director can authorize any associated

master license and sports betting license(s) to remain active pending the

Commission’s review of the retailer’s request for a temporary closure. At

the time of its review of the retailer’s request for a temporary closure, the

Commission will determine whether or not to allow any associated master

license and sports betting license(s) to remain active during the pendency

of the temporary closure.

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(c)

In instances where a retailer’s licensed premise was destroyed or

damaged by a natural disaster and the retailer seeks to maintain any

associated master license and sports betting license(s), the retailer must

request, in writing, an immediate temporary closure within 90 calendar

days of the natural disaster first occurring. The Commission and/or

Division may request additional information from the retailer prior to the

Commission’s consideration and decision. If the Commission grants the

request for temporary closure based on damage from a natural disaster,

the retailer must provide an updated request with supplemental

information, including all of the information listed under subsection (2)

above, by a date set by the Commission for review

vision may request additional information from the retailer prior to the

Commission’s consideration and decision. If the Commission grants the

request for temporary closure based on damage from a natural disaster,

the retailer must provide an updated request with supplemental

information, including all of the information listed under subsection (2)

above, by a date set by the Commission for review. At the time of review,

the Commission can then extend the initial temporary closure based on

the circumstances, information provided by the retailer and information

provided by the Division.

(6)

During a temporary closure, the retailer must provide at a minimum, monthly

updates in writing to the Director or the Director’s designee regarding the status

of remodeling and/or building, unless the Director or the Director’s designee

requests more frequent updates. The status updates must include the following

information:

(a)

The status of the reconstruction;

(b)

Whether the projected reconstruction will be completed within the

originally specified time period;

(c)

A detailed description of the on-going and remaining phases of the

reconstruction project; and

(d)

Any other information requested at the time the Commission authorized

the temporary closure.

(7)

A retailer must maintain possession of the licensed premise during the entire

temporary closure and appropriately secure gaming devices and gaming

equipment.

(8)

A temporary closure does not affect or extend licensing periods. A retailer must

comply with all licensing deadlines, including renewal, during a temporary

closure. A temporary closure may take place during the renewal period for the

retailer’s license.

maintain possession of the licensed premise during the entire

temporary closure and appropriately secure gaming devices and gaming

equipment.

(8)

A temporary closure does not affect or extend licensing periods. A retailer must

comply with all licensing deadlines, including renewal, during a temporary

closure. A temporary closure may take place during the renewal period for the

retailer’s license.

(9)

At least 15 calendar days before the end of reconstruction and the completion of

the temporary closure, the retailer must submit written notice to the Division

detailing the anticipated date of reopening and ensuring compliance with

Commission rules and internal control ICMP in order to resume gaming

operations. The retailer must obtain written approval from the Division before

resuming gaming operations.

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(10)

A retailer who holds a master license may continue to operate its sports betting

operations during the temporary closure, so long as the retailer complies with the

following conditions:

(a)

Full compliance with this rule; and,

(b)

Active and ongoing rebuilding/remodeling throughout the entire temporary

closure.

(11)

If a retailer fails to comply with the provisions in this rule before or during a

temporary closure, or fails to complete the remodeling and/or rebuilding of its

licensed premise during the approved temporary closure period, any requested

temporary closure may be rescinded by the Division or the Commission and the

retailer may be subject to disciplinary proceedings, up to and including revocation

of the retailer’s license, in accordance with these rules and the provisions under

Article 30 of Title 44, C.R.S.

30-319

Temporary license.

d/or rebuilding of its

licensed premise during the approved temporary closure period, any requested

temporary closure may be rescinded by the Division or the Commission and the

retailer may be subject to disciplinary proceedings, up to and including revocation

of the retailer’s license, in accordance with these rules and the provisions under

Article 30 of Title 44, C.R.S.

30-319

Temporary license.

(1)

Except as provided in Regulation 30-207, the Commission may in its sole

discretion issue a temporary license to any applicant for a permanent license. A

temporary license may only be issued where the Commission is satisfied that the

investigation of the applicant conducted thus far, and the application in its

entirety, indicate that the applicant and its gaming business: meet all the

requirements of article 30 of title 44, C.R.S.; do not present any danger to the

public or to the reputation of limited gaming in this State; further investigation

most likely will not uncover any derogatory information about the applicant; and

issuance of a temporary license is of economic necessity to the licensee and is

just under the circumstances.

(2)

No licensee issued a temporary license pursuant to this article shall be entitled to

receive any refund of the license fee submitted in connection with the license

application.

(3)

The Commission may change a temporary license into a permanent license

where: all investigations into the license application are complete; and the

Commission is satisfied the holder of a temporary license qualifies to hold a

permanent license.

(4)

When the Commission changes a temporary into a permanent license, the date

of issuance of the permanent license shall be deemed to be that of the first

temporary license.

(5)

A temporary license may expire of its own accord, or it may be suspended,

revoked, or summarily suspended under the same terms and conditions as a

permanent license.

emporary license qualifies to hold a

permanent license.

(4)

When the Commission changes a temporary into a permanent license, the date

of issuance of the permanent license shall be deemed to be that of the first

temporary license.

(5)

A temporary license may expire of its own accord, or it may be suspended,

revoked, or summarily suspended under the same terms and conditions as a

permanent license.

(6)

The Commission may issue consecutive temporary licenses in its discretion.

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30-320

Approval with conditions or for a limited period.

The Commission may grant a license with special conditions or for a limited period, or

both.

30-321

Approval.

Except as provided in regulation 30-207, the Commission shall approve an application

for any license that meets all requirements, imposed by article 30 of title 44, C.R.S., and

the rules and regulations thereunder, including payment of all fees and costs.

30-322

Non-transferability of license.

A license issued pursuant to these rules and regulations shall not be assignable or

transferable. The Commission reserves the right to terminate any license and revoke

the privileges of such license whenever appropriate.

30-323

Duplicate licenses.

The fee for the duplicate of a license shall be five dollars. (amend. perm. 04/01/02)

30-324

Investigation of conduct of licensees, generally.

A gaming license is a revocable privilege, and no holder thereof shall be deemed to

have acquired any vested rights therein or thereunder. The burden of proving the

licensee’s qualifications to hold any license rests at all times on the licensee. The

Division and the Commission are charged by law with the duty of observing the conduct

of all licensees to the end that licenses shall not be held by unqualified or disqualified

persons or unsuitable persons or persons whose operations are conducted in an

unsuitable manner

or thereunder. The burden of proving the

licensee’s qualifications to hold any license rests at all times on the licensee. The

Division and the Commission are charged by law with the duty of observing the conduct

of all licensees to the end that licenses shall not be held by unqualified or disqualified

persons or unsuitable persons or persons whose operations are conducted in an

unsuitable manner.

30-325

Variation games of poker, blackjack, craps, roulette, blackjack-poker

combination games and table games with electronic betting terminals. Amended

3/16/2012, Amended 1/14/2015

(1)

Persons requesting approval of variation games of poker, blackjack, craps,

roulette, blackjack-poker combination games and table games with EBTs, shall

pay a fee of $2,250.00 for costs of inspection, examination, and evaluation of the

game and for drafting regulations and Internal Control Minimum Procedures

governing play and control of such game. Amended 3/16/2012, Amended

1/14/2015

(2)

The Division will conduct an investigation into the background and suitability of a

person seeking approval of a variation game of poker, blackjack, craps, roulette,

blackjack-poker combination games and table games with EBTs. Such person

shall be required to pay the fees specified by Rule 30-305. Amended 1/14/2015

(a)

The Director may require a periodic re-investigation.

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(b)

None of these games shall be approved until payment for the full amount

of any negative deposit balance has been received from the person

seeking approval of the variation game. (30-305.5 perm 10/30/97)

Amended 11/30/2012, Amended 1/14/2015

(3)

Requests for approval of new variation games of poker, blackjack, craps,

roulette, blackjack-poker combination games and table games with EBTs shall be

made on such forms and processed in such manner as the Director shall

prescribe. Amended 3/16/2012

The application must be in writing and must include, in addition to such other

information as the Director may require:

0/2012, Amended 1/14/2015

(3)

Requests for approval of new variation games of poker, blackjack, craps,

roulette, blackjack-poker combination games and table games with EBTs shall be

made on such forms and processed in such manner as the Director shall

prescribe. Amended 3/16/2012

The application must be in writing and must include, in addition to such other

information as the Director may require:

(a)

The name of the game to be used in Colorado, and any other name by

which the game is known, marketed, or approved in any other gaming

jurisdiction. The name to be used in Colorado must be different than the

name of any other game currently approved by the Commission.

(b)

Identification information of all persons:

(i)

Who developed the game;

(ii)

Who hold intellectual property rights or other legal rights to the

game;

(iii)

Who have, or who will have, the right or privilege to market the

game in Colorado; and

(iv)

Who have had, who have, or will have, the rights to share in the

profits, proceeds, royalties, commissions, or other profits generated

by the sale, lease, placement, or distribution of the game in any

gaming jurisdiction.

(4)

The Director may authorize a brief review of each application for approval of a

variation game of poker, blackjack, craps, roulette, blackjack-poker combination

games and table games with EBTs to be conducted, at no cost to the applicant,

to determine whether or not it is likely that the proposed game could lawfully be

played in this state. After such determination has been made, the applicant shall

be advised of the finding, which shall not be binding on the Director or the

Commission. The applicant shall then be required to submit the required fee to

the Division before the Division conducts any further review of the application.

Amended 11/30/2012

r or not it is likely that the proposed game could lawfully be

played in this state. After such determination has been made, the applicant shall

be advised of the finding, which shall not be binding on the Director or the

Commission. The applicant shall then be required to submit the required fee to

the Division before the Division conducts any further review of the application.

Amended 11/30/2012

(5)

The Director may approve temporary rules of play and a temporary formula for

calculation of adjusted gross proceeds received from the game, and may

authorize the proposed game to be field tested by at least one retail licensee.

(amended perm. 04/30/04)

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(6)

The test period for new variation games shall not exceed 180 days, from the date

offered for public play, during which time the Director or designee may amend

the rules of play and may make minor modifications to the trial game. The

Director may order termination of the test period at any time prior to the end of

180 days if, in the Director’s or designee’s discretion, the Director or designee

determines: Amended 11/30/2012

(a)

That the game cannot be lawfully played in the State of Colorado;

(b)

That further testing will not be of benefit to the Division or the Commission;

(c)

That either the developer or distributor of the proposed game, or the retail

licensee, has not complied with the terms and conditions of the order

authorizing the test; or

e’s discretion, the Director or designee

determines: Amended 11/30/2012

(a)

That the game cannot be lawfully played in the State of Colorado;

(b)

That further testing will not be of benefit to the Division or the Commission;

(c)

That either the developer or distributor of the proposed game, or the retail

licensee, has not complied with the terms and conditions of the order

authorizing the test; or

(d)

For any other cause.

(6.5) EBTs, when utilized with approved games, are deemed in a field trial status for

90 days from the date offered for public play. Unless the Director or designee

terminates the field trial of such equipment for cause, authorization and approval

for use of EBTs shall become effective at the conclusion of field trial. The

Division shall determine field trial testing criteria specific to various EBTs or

equipment. Where applicable, Colorado Gaming Regulations 30-1202 and 30-

1203 shall apply to EBTs. Eff/ 3/16/2012, Amended 11/30/2012

(7)

Retail licensees offering a proposed game during a test period shall be

responsible for calculation of adjusted gross proceeds from the game, and shall

include such adjusted gross proceeds in their calculation of gaming tax liability.

(8)

(a)

At the conclusion or termination of the test period, the Director may:

(i)

Deny the proposed game, or may recommend to the Commission

that the proposed game not be approved;

(ii)

Require or allow the applicant to change, modify, or withdraw the

application for approval of the proposed game;

(iii)

Require further field testing of the proposed game under similar or

different conditions, including, but not limited to: retail location,

season of play, surveillance, auditing, or any other condition; or

(iv)

Recommend to the Commission that the new game be approved,

and if so, shall propose regulations which authorize and describe

play of the game.

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ield testing of the proposed game under similar or

different conditions, including, but not limited to: retail location,

season of play, surveillance, auditing, or any other condition; or

(iv)

Recommend to the Commission that the new game be approved,

and if so, shall propose regulations which authorize and describe

play of the game.

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(b)

In the event the applicant disagrees with any determination of the Director

pursuant to this paragraph (8), the applicant may petition for review before

the Commission pursuant to Rule 30-208.

(9)

While a new variation game is in field trial testing, the Division’s table games

committee shall make a preliminary determination as to the legality of the game,

no later than 90 days from when the game is offered for public play. If in the

Division’s determination the game is lawful, the Division will notice and post rules

for a rule making hearing. Any licensee, who agreed to field trial the game, may

retain and play the game throughout the rule making hearing and final approval

process, not to exceed 180 days. When rules are approved by the Commission

and become effective, only then shall the game become available to all retail

licensees to pursue acquisition of rights to offer the game. Eff. 3/16/2012,

Amended 11/30/2012

(10)

If the proposed game is in the public domain, the Director may waive the

requirements of paragraphs (1) and (9) above, either in whole or in part. (30-325

perm. 10/30/97, amended perm. 4/30/04)

30-326

Requirements for licensed retailer.

In order to be recognized as a retailer under sections 44-30-103(27) and 44-30-501,

C.R.S., the establishment must meet the following requirements:

(1)

Present and fully functioning gaming devices;

(2)

A surveillance system approved by the Division;

(3)

A slot database, if applicable;

(4)

Sufficient staff to allow for segregation of duties;

(5)

A key employee on duty;

(6)

Sufficient cash to meet minimum bankroll;

(7)

A cashier cage;

(8)

An accounting box;

0-103(27) and 44-30-501,

C.R.S., the establishment must meet the following requirements:

(1)

Present and fully functioning gaming devices;

(2)

A surveillance system approved by the Division;

(3)

A slot database, if applicable;

(4)

Sufficient staff to allow for segregation of duties;

(5)

A key employee on duty;

(6)

Sufficient cash to meet minimum bankroll;

(7)

A cashier cage;

(8)

An accounting box;

(9)

A key control box;

(10)

Compliance with all Internal Control Minimum Procedures; and

(11)

Be open regularly for operation unless otherwise approved by the Director.

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BASIS AND PURPOSE FOR RULE 4

The purpose of Rule 4 is to specify the rights, responsibilities, and duties of licensees;

specify certain duties of licensees related to permitting access to the Division of

information, records, and premises controlled by the licensee; require licensees to

maintain sufficient financial reserves; establish restrictions on the use of shills and

proposition players; require that certain information be publicly posted; direct the

licensee to prohibit certain conduct; and establish procedures for patron disputes,

dissolution of corporations, transfers of interests and terminations of licensee

employment or licensure. The statutory basis for Rule 4 is found in sections 44-30-201,

C.R.S., 44-30-203, C.R.S., 44-30-301, C.R.S., 44-30-302, C.R.S., and 44-30-502,

C.R.S., 44-30-510, C.R.S., 44-30-528, C.R.S., and 44-30-833, C.R.S.

RULE 4

RIGHTS AND DUTIES OF LICENSEES

30-401

Responsibility of licensee.

Responsibility for the employment and maintenance of lawful methods of operation

rests with the licensee, and willful or persistent use or toleration of methods of operation

considered unlawful by the Commission is prohibited. Each licensee shall fully and

timely perform each and every term, condition and duty required by the rules and

regulations of the Commission.

30-402

Discovery of violations

Responsibility for the employment and maintenance of lawful methods of operation

rests with the licensee, and willful or persistent use or toleration of methods of operation

considered unlawful by the Commission is prohibited. Each licensee shall fully and

timely perform each and every term, condition and duty required by the rules and

regulations of the Commission.

30-402

Discovery of violations.

Each licensee must immediately notify the Division of the discovery of a violation or of a

suspected violation of article 30 of title 44, C.R.S., or the rules and regulations

promulgated thereunder. Amended 12/15/16, corrected 5/3/17

30-403

Unauthorized games.

No licensee may permit the operation of any game other than authorized games in a

licensed retail establishment.

30-404

List of personnel.

Prior to opening for business, a retail licensee must furnish to the Director on a form, or

other medium required by the Division, a list of all persons, permanently or temporarily

on property, licensed and unlicensed, including birth dates, employed by the retail

licensee. Additionally, the retail licensee must by the first day of each month submit

changes to its lists of employees, unless the Director, in writing, demands more frequent

notification or allows less frequent notification. (amend perm 03/30/03)

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30-405

Information to be furnished by licensee.

(1)

Reports and notices to the Division required by the Colorado Limited Gaming

Act, or by the rules and regulations promulgated thereunder, must be made in

writing, and must be submitted to the Division’s main office in Golden, Colorado.

(a)

If any section of the Act or of the Colorado gaming regulations requires

that a report or notice be made in a different manner, then the specified

manner shall be used.

and notices to the Division required by the Colorado Limited Gaming

Act, or by the rules and regulations promulgated thereunder, must be made in

writing, and must be submitted to the Division’s main office in Golden, Colorado.

(a)

If any section of the Act or of the Colorado gaming regulations requires

that a report or notice be made in a different manner, then the specified

manner shall be used.

(b)

Delivery of notice may be made by United States mail, by personal or

commercial delivery to the office, by facsimile transmission, or by

electronic mail. Facsimile transmissions shall be made to the telephone

number provided by the Division. Electronic mail transmissions shall be

directed to the electronic mail address provided by the Division, or when

available, by use of forms submitted from the Division's internet website.

(30-405(I) perm. 10/30/99)

(2)

Each retail licensee must report to the Division at least quarterly the full name

and address of every person, including lending agencies, who has a right to

share in the revenues of limited gaming, whether as an owner, assignee,

landlord, or otherwise or to whom any interest or share in the profits of limited

gaming has been pledged or hypothecated as security for a debt or deposited as

a security for the performance of an act or to secure the performance of a

contract of sale.(30-405(2) perm. 10/30/99)

(3)

Each licensed retailer, operator, associated equipment supplier, manufacturer or

distributor must report to the Division the name, date of birth, and social security

number of all persons who obtain an ownership, financial, or equity interest in the

licensee of five percent or greater, or who have the ability to control the licensee,

or who have the ability to exercise significant influence over the licensee within

ten (10) days after such person acquires the ownership, financial, or equity

interest, or who loan any money or other thing of value to the licensee. (30-

405(3) perm. 10/30/99) Amended 11/30/2012, Amended 2/14/14

y interest in the

licensee of five percent or greater, or who have the ability to control the licensee,

or who have the ability to exercise significant influence over the licensee within

ten (10) days after such person acquires the ownership, financial, or equity

interest, or who loan any money or other thing of value to the licensee. (30-

405(3) perm. 10/30/99) Amended 11/30/2012, Amended 2/14/14

(4)

Any person licensed by the Commission, and any associated person to a

licensee, must make written notification to the Division of any criminal conviction

and criminal charge pending against such person within ten days of such

person's arrest, summons, or conviction. This notification requirement shall not

apply to non-felony traffic violations unless they result in suspension or

revocation of a driver's license, are based on allegations of driv ing under the

influence or impairment of intoxicating liquor or drugs, or result in the person

being taken into custody. Failure to make proper notification to the Division may

be grounds for a disciplinary action. (30-405(3) temp. 10/30/91, perm. 1/30/92)

(30-405(3) temp. 7/14/93, perm. 8/30/93) (30-405(4) perm. 10/30/99) (30-405(4)

amended perm. 03/30/03) Amended 11/30/2012

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(5)

All licensed manufacturers, distributors, operators, and retailers must report to

both the local Division office and the Division's Golden office on a form, or other

medium, required by the Division, the movement of slot machines. This

notification must be made by both the recipient and sender of devices on a

weekly activity basis identifying any movement of devices to and from any

location for that week. (30-405(4) perm. 12/30/94) (30-405(4) perm. 10/30/96)

(30-405(5)perm. 10/30/99) amended perm. 03/30/03) Amended 11/30/2012

Golden office on a form, or other

medium, required by the Division, the movement of slot machines. This

notification must be made by both the recipient and sender of devices on a

weekly activity basis identifying any movement of devices to and from any

location for that week. (30-405(4) perm. 12/30/94) (30-405(4) perm. 10/30/96)

(30-405(5)perm. 10/30/99) amended perm. 03/30/03) Amended 11/30/2012

(6)

All licensed manufacturers, distributors, associated equipment suppliers,

operators, and retailers must report to the Division any discovered or suspected

plan, scheme, design, device or other methods of cheating that may compromise

the integrity of any gaming device sold or offered for sale, offered for play, or

used for any other gaming purpose within the state of Colorado by such licensee.

A report shall be made as soon as possible after the discovery of such cheating

plan, scheme, design, device or method, but not later than 14 calendar days if

the reporting licensee is a manufacturer, distributor, or associated equipment

supplier, and not later than 7 days, if the reporting licensee is an operator or

retailer. (30-405(6) perm. 10/30/99) Amended 11/30/2012, Amended 2/14/14

(a)

The subject matter and reports of the investigation conducted hereunder

shall be considered confidential pursuant to Section 44-30-526, C.R.S. as

amended, except the Director may, as deemed necessary and prudent in

the exercise of his discretion, take whatever steps deemed necessary to

address or mitigate the cheating problem including disseminating a

warning to other licensing jurisdictions or Colorado licensees about the

cheating problem. (30-405 perm. 4/30/95) Amended 11/30/2012

dered confidential pursuant to Section 44-30-526, C.R.S. as

amended, except the Director may, as deemed necessary and prudent in

the exercise of his discretion, take whatever steps deemed necessary to

address or mitigate the cheating problem including disseminating a

warning to other licensing jurisdictions or Colorado licensees about the

cheating problem. (30-405 perm. 4/30/95) Amended 11/30/2012

(7)

Notice of financial interest relationships required to be made pursuant to 44-30-

833, C.R.S. shall be made following the procedures in paragraph (1), above. (30-

405) added perm. (10/30/99) Amended 11/30/2012

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30-406

Inspections.

A retail licensee, licensed manufacturer or distributor, licensed associated equipment

supplier and licensed operator must immediately make available for inspection by the

Commission, Director, or its agents or investigators, local sheriffs, or their agents or

investigators, and police departments upon demand, all papers, books, and records

produced, used or kept in connection with limited gaming, and all portions of the

premises where gaming is conducted or where gambling devices or equipment are

manufactured, sold, used, displayed, kept, or distributed. Upon demand, employees and

agents of the Commission, Division, local sheriffs, and police departments, must be

given immediate access to any portion of the premises of a retail licensee, manufacturer

or distributor, associated equipment supplier, or operator for the purpose of inspecting

or examining records or documents, gaming devices or equipment, or the conduct of

gaming activity.

30-407

Access to premises and production of records.

No applicant or licensee, or applicant or licensee’s employee or agent may neglect or

refuse to produce records or evidence or to give information on lawful demand by the

Commission or the Division

upplier, or operator for the purpose of inspecting

or examining records or documents, gaming devices or equipment, or the conduct of

gaming activity.

30-407

Access to premises and production of records.

No applicant or licensee, or applicant or licensee’s employee or agent may neglect or

refuse to produce records or evidence or to give information on lawful demand by the

Commission or the Division. No applicant or licensee shall interfere or attempt to

interfere with lawful efforts by the Commission or Division to obtain or produce such

information.

30-408

Employee on premises.

When a licensed game or a slot machine is available for play by the public, each

licensee must have a licensed employee of the retail licensee present on the premises

to supervise the operation of the game or machine.

30-409

Support and key licensee identification. Amended 12/15/16

Every person licensed as a support or key employee licensee must wear in plain view

identification issued by the Commission or Division. This section shall not apply to

proposition players playing in poker games or to employees engaged in undercover

security operations for the licensee, except that such licensees must have their license

identification badges in their possession while working and must present them to

division employees upon demand. (30-409 Amended 10/30/97)

30-409.5

Emergency identification credentials.

(1)

Upon submission of a written request from a retail gaming licensee to the

Director or designee, the Division may issue up to ten (10) emergency

identification credentials to each retail gaming licensee for use in accordance

with the provisions of this regulation.

(a)

In the written requests, the retail gaming licensee must provide:

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)

Upon submission of a written request from a retail gaming licensee to the

Director or designee, the Division may issue up to ten (10) emergency

identification credentials to each retail gaming licensee for use in accordance

with the provisions of this regulation.

(a)

In the written requests, the retail gaming licensee must provide:

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(i)

The number of emergency identification credentials requested; and

(ii)

A list of individuals that the retail gaming licensee will authorize to

issue emergency identification credentials to its support employees

or key employees in accordance with the provisions of this

regulation.

(iii)

The retail gaming licensee must obtain permission from the Director

or designee before amending the list of individuals in subsection

(1)(a)(ii) of this regulation

(b)

The Director has sole discretion whether to issue emergency identification

credentials to a retail gaming licensee.

(c)

At the time of issuance of emergency identification credentials to a retail

gaming licensee, the Division will create a unique identifier for each issued

emergency identification credential.

(d)

Each emergency identification credential will expire at a date not to

exceed three (3) years from the date of issuance by the Division to the

retail gaming licensee. The Director or designee may renew or reissue the

emergency identification credentials upon written requests from a retail

gaming licensee prior to the expiration date.

entifier for each issued

emergency identification credential.

(d)

Each emergency identification credential will expire at a date not to

exceed three (3) years from the date of issuance by the Division to the

retail gaming licensee. The Director or designee may renew or reissue the

emergency identification credentials upon written requests from a retail

gaming licensee prior to the expiration date.

(e)

Emergency identification credentials may only be issued for use at a

single retail gaming licensee location and are not transferrable to another

retail gaming licensee, support employee licensee or key employee

licensee.

(2)

A support or key employee licensee (“employee”) who does not have his or her

physical gaming license identification may obtain an emergency identification

credential, issued in accordance with subsection (1) of this regulation, from their

employing retail gaming licensee to enable the employee to perform their duties

at the licensed facility.

(3)

An employee seeking an emergency identification credential shall present

themselves in-person to an individual at the retail gaming licensee who is

authorized by the retail gaming licensee to issue emergency identification

credentials.

(4)

Prior to issuing the emergency credential, the individual at the retail gaming

licensee who is authorized by the retail gaming licensee to issue emergency

identification credentials will verify:

(a)

The identity of the employee requesting the emergency identification

credential;

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(b)

That the employee holds a valid and current Colorado gaming license;

and,

mergency credential, the individual at the retail gaming

licensee who is authorized by the retail gaming licensee to issue emergency

identification credentials will verify:

(a)

The identity of the employee requesting the emergency identification

credential;

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(b)

That the employee holds a valid and current Colorado gaming license;

and,

(c)

That fewer than ten (10) emergency credentials have been issued to the

employee in the past twelve (12) months. If the employee requesting the

emergency identification credential has been issued more than ten (10) in

the past twelve (12) months, the retail gaming licensee shall deny the

employee’s request.

(5)

Upon issuance of an emergency identification credential, the retail gaming

licensee shall maintain a record of:

(a)

The employee’s full name;

(b)

The reason provided by the employee that the emergency identification

credential was requested;

(c)

The date and time that the retail gaming licensee issued the emergency

identification credential to the employee; and

(d)

The name of the individual who issue the emergency identification

credential to the employee.

(6)

Upon issuance of an emergency identification credential, the retail gaming

licensee shall submit the applicable Division-approved form within two (2) hours

of issuance, identifying the employee who received the emergency identification

credential, including:

(a)

The employee’s name;

(b)

The employee’s support or key licensee number issued by the

commission or the Division;

(c)

The date and time that the retail gaming licensee issued the emergency

identification credential to the employee.

(7)

The following provisions apply to emergency identification credentials:

(a)

An emergency identification credential is only valid for a time period not to

exceed twenty-four (24) hours following issuance.

s support or key licensee number issued by the

commission or the Division;

(c)

The date and time that the retail gaming licensee issued the emergency

identification credential to the employee.

(7)

The following provisions apply to emergency identification credentials:

(a)

An emergency identification credential is only valid for a time period not to

exceed twenty-four (24) hours following issuance.

(b)

Upon receipt of an emergency identification credential, the employee must

have the emergency identification credential in their possession while

working and must present it to Division staff upon demand.

(c)

The employee must return the issued emergency identification credential

to their employing retail gaming licensee at the end of the employee’s

shift, not to exceed twenty-four (24) hours following issuance.

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(d)

A retail gaming licensee shall not renew or immediately reissue an

emergency identification credential to an employee without prior approval

from the Director or designee.

(e)

If an issued emergency identification credential is lost, stolen or

unaccounted for longer than two (2) hours, the employee who received the

emergency identification credential must immediately inform their

employing retail gaming licensee and the Division by contacting a Division

of Gaming investigator.

(f)

If an unissued emergency identification credential is lost, stolen or

unaccounted for longer than four (4) hours, a retail gaming licensee must

immediately inform the Division by contacting a Division of Gaming

investigator.

30-410

Display of license.

All persons licensed as retail licensees must display their licenses, in a manner plainly

visible to the public, on the licensed premises.

30-411

Use of lammers. Amended 12/15/16

(Former Regulation 30-411 was relocated to Regulation 30-1001 (4) through (5).

30-412

Payment of winners - reserves

mediately inform the Division by contacting a Division of Gaming

investigator.

30-410

Display of license.

All persons licensed as retail licensees must display their licenses, in a manner plainly

visible to the public, on the licensed premises.

30-411

Use of lammers. Amended 12/15/16

(Former Regulation 30-411 was relocated to Regulation 30-1001 (4) through (5).

30-412

Payment of winners - reserves.

All retail licensees shall at all times have available sufficient financial reserves to

promptly pay winners of, or participants in, limited gaming activities conducted or

offered by that retail licensee. Payment must be made to winners and participants by

cash or by check drawn upon a bank, or other financial institution in Colorado, chartered

by the State of Colorado or any other state or the United States Government, within 24

hours of any bona-fide demand by a winner or participant for payment. Any check

issued by a retail licensee to any winner of a limited gaming activity must, at the time of

issuance and until cashed or three months has expired (whichever is earlier), be backed

by and drawn upon sufficient funds to cover the full amount of the check.

30-413

Publication of payoffs.

Payoff schedules applicable to every licensed game or slot machine must be displayed

at all times either on the table or machine or in a conspicuous place immediately

adjacent to it.

Payoff schedules must accurately state actual payoffs applicable to the particular game

and may not be worded in a manner which misleads or deceives the public.

Maintenance of misleading or deceptive matter on a payoff schedule or failure on the

part of a licensee to make payment in strict accordance with posted payoff schedules is

prohibited.

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30-414

Player rules.

A retail licensee must post the following rules on the licensed areas:

(1)

Players must be at least 21 years of age;

(2)

No side bets are permitted;

(3)

No credit may be extended;

payoff schedule or failure on the

part of a licensee to make payment in strict accordance with posted payoff schedules is

prohibited.

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30-414

Player rules.

A retail licensee must post the following rules on the licensed areas:

(1)

Players must be at least 21 years of age;

(2)

No side bets are permitted;

(3)

No credit may be extended;

(4)

It is unlawful to claim unattended or unearned credits and money on gaming

devices;

(5)

It is unlawful to participate in limited gaming activities while intoxicated; and

(6)

Federal law prohibits the use of casino chips and tokens outside this

establishment for any monetary purpose. (30-414 amended perm. 10/30/99;

414(6) added perm. 09/30/00)

30-415

Visibly intoxicated persons.

(1)

No licensee shall permit:

(a)

Persons who are visibly intoxicated to participate in gaming activity; or

(b)

Service of alcoholic beverages in the licensed premises to persons who

are visibly intoxicated.

(2)

No person shall participate in a limited gaming activity when such person is

intoxicated.

30-416

Advertising.

No licensee shall allow, conduct, or participate in any false or misleading advertising

concerning its limited gaming operations.

30-417

Patron disputes.

In a patron dispute, a licensee must notify the disputing patron that the patron has a

right to contact the Division regarding the dispute.

If a licensee refuses payment of alleged winnings to a patron, the licensee and the

patron are unable to resolve the dispute to the patron's satisfaction, or the dispute

involves at least $1,250, the licensee must immediately notify the Division. The Director

shall conduct whatever investigation is necessary and must determine whether or not

payment should be made. An agent of the Division may investigate the dispute and may

report either to the Commission or to the Director for a decision.

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r the dispute

involves at least $1,250, the licensee must immediately notify the Division. The Director

shall conduct whatever investigation is necessary and must determine whether or not

payment should be made. An agent of the Division may investigate the dispute and may

report either to the Commission or to the Director for a decision.

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The Director must notify the licensee and the patron in writing of the Director’s decision

regarding the dispute, within ten business days after the completion of the investigation.

Failure immediately to notify the Division of a dispute, or to notify a patron of the

patron’s rights or failure to pay after an adverse decision, is a violation by the licensee.

30-418

Special rules of conduct.

A retail licensee may establish rules of conduct for players and spectators on its

licensed site. Any such rules must be posted. The Director shall have the authority to

immediately terminate any or all of such rules in any retail establishment.

30-419

Procedure upon dissolution.

Upon dissolution of a corporation, partnership, or association, the licensee must

surrender the license to the Commission within 10 days following the date of the

dissolution.

30-420

Transfers of interest.

Except as provided in Rule 4.5, no person may sell, lease, purchase, convey, or acquire

an interest in a retail, operator, associated equipment supplier, manufacturer or

distributor licensee, or business without the prior approval of the Commission. 30-420

temp. 7/1/93, perm. 8/30/93; Amended 11/30/03, Amended 2/14/14; Amended

2/14/2019

30-421

Termination of qualifying licensee, manager, or agent.

Upon the termination of a manager’s or agent’s affiliation with the licensee, the licensee

must name one or more new managers or agents, including temporary appointments

until a permanent appointment is made, and notify the Division within seven days.

30-422

Termination of employment of support licensee

mended 2/14/14; Amended

2/14/2019

30-421

Termination of qualifying licensee, manager, or agent.

Upon the termination of a manager’s or agent’s affiliation with the licensee, the licensee

must name one or more new managers or agents, including temporary appointments

until a permanent appointment is made, and notify the Division within seven days.

30-422

Termination of employment of support licensee.

(Deleted effective 10/31/99)

30-423

Post-termination matters.

Upon termination of a retail or operator license for any reason, no further gaming activity

shall be conducted by said licensee or on the previously licensed premises. After such

termination, at a date designated by the Director, said licensee shall submit to the

Division a final accounting and surrender the license.

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30-424

Restrictions on time, place, and structures.

Limited gaming conducted pursuant to article 30 of title 44, C.R.S. and these rules shall

be permitted 24 hours a day, three hundred and sixty-five days a year. During leap

years, this shall be three hundred and sixty-six days a year. Limited gaming may only

take place within the licensed premises of a retail establishment possessing a license to

conduct such gaming.

30-425

Activities which constitute fraud.

(1)

Fraudulent acts shall not be permitted by licensees or patrons of limited gaming.

In addition to those acts listed in section 44-30-822, C.R.S., “fraudulent acts”

shall include but shall not be limited to: misrepresentation of the probabilities of

pay out or pay out awards of any limited gaming device or game; wording pay off

schedules or pay out awards in a misleading or deceptive manner; and the failure

of the licensee to make payment in strict accordance with posted payoff

schedules.

on to those acts listed in section 44-30-822, C.R.S., “fraudulent acts”

shall include but shall not be limited to: misrepresentation of the probabilities of

pay out or pay out awards of any limited gaming device or game; wording pay off

schedules or pay out awards in a misleading or deceptive manner; and the failure

of the licensee to make payment in strict accordance with posted payoff

schedules.

(2)

Players in any limited gaming game shall not play, nor attempt to play, in

cooperation or collusion with any other person, nor shall any licensee knowingly

permit such cooperation or collusion. Evidence of collusion may include, but shall

not be limited to the following:

(a)

Any play by a player which is intended to assist one player over another.

(b)

A continuing or repeated pattern of betting by and between the same two

or more players, the purpose of which is to cause other players to fold or

withdraw from a game.

(c)

Two or more players sharing winnings from a hand or a player agreeing to

share winnings with another player if either wins any part of the pot,

except as permitted in tournament play by Regulation 30-1058(4).

(d)

Having an agreement not to bet or not to raise another player.

(e)

Verbal or non verbal communication pertaining to the game between

persons including, but not limited to: imparting information about one’s

hand to a player in the pot; advising someone on how to play a hand or

suggesting a particular betting action; reading a hand for a player who has

not yet shown his hand; or any communication between players by means

other than spoken english, unless such communication, or its import, is

understood by all persons at the table.

ersons including, but not limited to: imparting information about one’s

hand to a player in the pot; advising someone on how to play a hand or

suggesting a particular betting action; reading a hand for a player who has

not yet shown his hand; or any communication between players by means

other than spoken english, unless such communication, or its import, is

understood by all persons at the table.

(f)

Any other act participated in by two or more players which fraudulently

creates an unfair advantage for a player, or -which fraudulently creates a

disadvantage for any other player in the game. (30-425(2) Added

10/30/97)

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30-426

Foreign gaming.

Any licensee, and any parent company or subsidiary company of the licensee, who has

applied to a foreign jurisdiction for licensure or other permission to conduct gaming in

such jurisdiction, or who possesses a license to conduct foreign gaming, shall notify the

Division of such application. Upon request, the licensee shall make available to the

Division all executed copies of all application forms and related documents filed with the

foreign jurisdiction by or on behalf of the applicant or by any entity affiliated with the

applicant. (amended 03/30/00)

30-427

Strategy cards.

(1)

At the discretion of a retail licensee, players of casino games may be permitted to

use strategy cards. Retail licensees shall not permit the use of any device similar

to a strategy card which is designed or intended to project the outcome of the

game, to keep track of the cards played, or to analyze or predict the probability of

the occurrence of an event relating to the game.

(2)

A retail licensee that does not permit the use of strategy cards shall post in its

table gaming area a notice informing its patrons of any prohibition or condition

imposed in accordance with Regulations 30-1039, 30-1040 And 30-1059.

30-428

Acceptance of tips.

he

game, to keep track of the cards played, or to analyze or predict the probability of

the occurrence of an event relating to the game.

(2)

A retail licensee that does not permit the use of strategy cards shall post in its

table gaming area a notice informing its patrons of any prohibition or condition

imposed in accordance with Regulations 30-1039, 30-1040 And 30-1059.

30-428

Acceptance of tips.

(1)

No gaming employee while serving in a supervisory capacity shall, directly or

indirectly, solicit, accept, or receive tips or gratuities from any patron or gaming

employee.

(2)

No gaming employee shall, directly or indirectly, share with, offer, or give tips or

gratuities to any gaming employee who is serving in a supervisory capacity. (30-

428 added perm. 10/30/00)

30-429

Payment of winning wagers.

(1)

A retail licensee shall follow the current IRS standards for all jackpot awards and

perform a gaming intercept as required for all jackpot pay outs as outlined in the

Internal Control Minimum Procedures Section 1 H.

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BASIS AND PURPOSE FOR RULE 4.5

The purpose of Rule 4.5 is to establish specific reporting procedures and approval

requirements for transfers of interests and other involvement with publicly traded

corporations directly or indirectly involved in gaming in Colorado. The statutory basis for

Rule 4.5 is found in sections 44-30-201, C.R.S., 44-30-203, C.R.S., 44-30-302, C.R.S.,

44-30-503, C.R.S., 44-30-510, C.R.S., and 44-30-801, C.R.S.

RULE 4.5

PUBLICLY TRADED CORPORATIONS AND PUBLIC OFFERINGS OF

SECURITIES

30-4.500

Incorporation by reference.

nterests and other involvement with publicly traded

corporations directly or indirectly involved in gaming in Colorado. The statutory basis for

Rule 4.5 is found in sections 44-30-201, C.R.S., 44-30-203, C.R.S., 44-30-302, C.R.S.,

44-30-503, C.R.S., 44-30-510, C.R.S., and 44-30-801, C.R.S.

RULE 4.5

PUBLICLY TRADED CORPORATIONS AND PUBLIC OFFERINGS OF

SECURITIES

30-4.500

Incorporation by reference.

(1)

The Commission adopts as part of Rule 4.5 of the Colorado Gaming Regulations

certain federal rules and forms referred to in this Rule 4.5. Such federal rules and

forms are published by the Office of the Federal Register National Archives and

Records Administration in full in the Code of Federal Regulations in 17 CFR 200-

399 (Chapter II Securities and Exchange Commission 4-1-02 Edition). These

federal rules and forms were promulgated pursuant to the following federal

statutes: The Securities Act of 1933, 15 U.S.C.S. sections 77a-77bbbb; and the

Securities Exchange Act of 1934, 15 U.S.C.S. Sections 78a-78pp. References

are also made to the following federal statutes: The Investment Advisers Act of

1940, 15 U.S.C.S. Sections 80b-l through 80b-21; and the Employee Retirement

Income Security Act of 1974, 29 U.S.C.S. Sections 1001 through 1461. This

regulation does not include amendments to or later editions of the incorporated

federal rules and forms found in the 4-1-02 edition of the Code of Federal

Regulations.

(2)

Certified copies of the complete text of the material incorporated are maintained

at the Colorado Division of Gaming, 1707 Cole Blvd., Suite 300, Lakewood,

Colorado 80401, and may be inspected by contacting the Records Custodian at

that address during normal business hours. The incorporated material may also

be examined at any state publications depository library. Certified copies shall be

provided at cost upon request.

30-4.501

Definitions.

As used in this Rule 4.5, the following terms shall have the meaning ascribed to them

herein:

300, Lakewood,

Colorado 80401, and may be inspected by contacting the Records Custodian at

that address during normal business hours. The incorporated material may also

be examined at any state publications depository library. Certified copies shall be

provided at cost upon request.

30-4.501

Definitions.

As used in this Rule 4.5, the following terms shall have the meaning ascribed to them

herein:

(1)

“Affiliated company” means a subsidiary company, holding company,

intermediary company or any other form of business organization that is related

in some manner to the licensee and:

(a)

Controls, is controlled by or is under common control directly or indirectly

with a licensee; or

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(b)

Is involved in gaming activities in this state or involved in the ownership of

property in this state upon which gaming is conducted.

(2)

“Current market price” means the average of the daily closing prices for the 20

consecutive trading days immediately preceding the date of such transaction or

the closing price on the day immediately preceding the date of such transaction,

whichever is higher. For the purpose of this definition, the closing price for each

day shall be the last reported sale price, regular way, or in case no such reported

sale takes place on such date, the average of the last reported bid and asked

prices, regular way, in either case on the principal national securities exchange

registered under the Securities Exchange Act of 1934, as amended (the “1934

Act”), on which such security is admitted to trading or listed, or if not listed or

admitted to trading on any national securities exchange, the closing price of such

security, or in case no reported sale takes place, the average of the closing bid

and asked prices, on NASDAQ or any comparable system, or if such security is

not listed or quoted on NASDAQ or any comparable system, the closing sale

price, or in case no reported sale takes place, the average of the closing bid and

asked prices, as furnished

y national securities exchange, the closing price of such

security, or in case no reported sale takes place, the average of the closing bid

and asked prices, on NASDAQ or any comparable system, or if such security is

not listed or quoted on NASDAQ or any comparable system, the closing sale

price, or in case no reported sale takes place, the average of the closing bid and

asked prices, as furnished by any member of the National Association of

Securities Dealers, Inc., selected from time to time by the issuer for that purpose.

(3)

“Holding company” means any corporation, firm, partnership, trust, limited liability

company or other form of business organization not a natural person which,

directly or indirectly:

(a)

Owns;

(b)

Has the power or right to control; or

(c)

Holds with power to vote,

all or any part of the stocks, interest or other voting security of a business entity

which holds or applies for a state gaming license; provided that the term “holding

company” does not include any broker-dealer registered with the United States

Securities and Exchange Commission (the “SEC”), any securities clearinghouse

or nominee thereof or any entity insured by the Federal Deposit Insurance

Corporation or regulated by a national or state banking regulator, if such person

or entity holds such stocks, interest or other voting securities for an unaffiliated

third party and does not exercise any vote over any such securities (other than in

a fiduciary capacity at the direction of the beneficial owner of such stocks,

interest or other voting securities or in accordance with the rules and regulations

of any self-regulatory organization having jurisdiction over such person or entity)

ds such stocks, interest or other voting securities for an unaffiliated

third party and does not exercise any vote over any such securities (other than in

a fiduciary capacity at the direction of the beneficial owner of such stocks,

interest or other voting securities or in accordance with the rules and regulations

of any self-regulatory organization having jurisdiction over such person or entity).

For the purposes of this section, in addition to any other reasonable meaning of

the words used, a holding company “indirectly” has, holds or owns any power,

right or security if it does so through any interest in a subsidiary or successive

subsidiaries, however many such subsidiaries may intervene between the

holding company and the licensee or applicant.

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(4)

“Institutional investor” means:

(a)

A bank as defined in Section 3(a) (6) of the Federal Securities Exchange

Act of 1934, as amended;

(b)

An insurance company as defined in Section 2(a) (17) of the Investment

Company Act of 1940, as amended;

(c)

An investment company registered under Section 8 of the Investment

Company Act of 1940, as amended;

(d)

An investment adviser registered under Section 203 of the Investment

Advisers Act of 1940, as amended;

(e)

Collective trust funds as defined in Section 3(c) (11) of the Investment

Company Act of 1940, as amended;

(f)

An employee benefit plan or pension fund that is subject to the Employee

Retirement Income Security Act of 1974, as amended, excluding an

employee benefit plan or pension fund sponsored by a licensed or an

intermediary or holding company licensee which directly or indirectly owns

five percent or more of a licensee;

(g)

A state or federal government pension plan; and

ny Act of 1940, as amended;

(f)

An employee benefit plan or pension fund that is subject to the Employee

Retirement Income Security Act of 1974, as amended, excluding an

employee benefit plan or pension fund sponsored by a licensed or an

intermediary or holding company licensee which directly or indirectly owns

five percent or more of a licensee;

(g)

A state or federal government pension plan; and

(h)

A group comprised entirely of persons specified in (a) through (g) of this

definition.

Notwithstanding the foregoing provisions of subsections (a) through (h), in order

to qualify as an institutional investor, a person other than a state or federal

pension plan must meet the requirements of a “qualified institutional buyer” as

defined by the SEC in Rule 144A under the Securities Act of 1933, as amended

(the “1933 Act”).

(5)

“Intermediary company”

means any corporation, firm, partnership, trust, limited

liability company or other form of business organization other than a natural

person which:

(a)

Is a holding company with respect to a business entity which holds or

applies for a state gaming license; and

(b)

Is a subsidiary with respect to any holding company.

(6)

“Public offering” means a sale of voting securities that is subject to the

registration requirements of section 5 of the 1933 Act, or that is exempt from

such requirements solely by reason of an exemption contained in section 3(a)

(10), 3(a) (11) or 3(c) of said Act or Regulation A or Regulation D adopted

pursuant to section 3(b) of the 1933 Act.

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(7)

“Publicly traded corporation” means:

(a)

Any corporation, firm, partnership, trust, limited liability company or other

form of business organization not a natural person which:

exemption contained in section 3(a)

(10), 3(a) (11) or 3(c) of said Act or Regulation A or Regulation D adopted

pursuant to section 3(b) of the 1933 Act.

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(7)

“Publicly traded corporation” means:

(a)

Any corporation, firm, partnership, trust, limited liability company or other

form of business organization not a natural person which:

(i)

Has one or more classes of voting securities registered pursuant to

section 44 of the 1934 Act; or

(ii)

Is an issuer subject to section 15(d) of the 1934 Act; or

(iii)

Has one or more classes of voting securities exempted from the

registration requirements of section 5 of the 1933 Act, solely by

reason of an exemption contained in section 3(a) (10), 3(a) (11) or

3(c) of the 1933 Act.

(b)

Any corporation, firm, partnership, trust, limited liability company or other

form of business organization created under the laws of a foreign country:

(i)

Which has one or more classes of voting securities registered on

that country’s securities exchange or over-the-counter market; and

(ii)

Whose activities have been found by the Commission to be

regulated in a manner which protects the investors and the State of

Colorado.

(c)

The term “publicly traded corporation” does not include any corporation,

firm, partnership, trust, limited liability company or other form of business

organization not a natural person which has securities registered or is an

issuer pursuant to subparagraph (i) of this definition solely because it:

e Commission to be

regulated in a manner which protects the investors and the State of

Colorado.

(c)

The term “publicly traded corporation” does not include any corporation,

firm, partnership, trust, limited liability company or other form of business

organization not a natural person which has securities registered or is an

issuer pursuant to subparagraph (i) of this definition solely because it:

(i)

Guaranteed a security issued by an affiliated company pursuant to

a public offering; or

(ii)

Is considered by the SEC to be a co-issuer of a public offering of

securities pursuant to Rule 140 under the 1933 Act.

(8)

“Security” shall have the meaning of the term set forth in section 11-51-201(17)

of the Colorado Securities Act of 1990, Title 11, Article 51, C.R.S.

(9)

“Subsidiary” means any firm, partnership, trust, limited liability company or other

form of business organization not a natural person, all or any interest in which is:

(a)

Owned;

(b)

Subject to a power or right of control; or

(c)

Held with power to vote directly, indirectly or in conjunction with a holding

company or intermediary company.

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(10)

“Voting security” means a security the holder of which is entitled to vote generally

for the election of a member or members of the board of directors or board of

trustees of a corporation or a comparable person or persons in the case of a

partnership, trust or other form of business organization other than a corporation.

30-4.502

Application of Rule.

In addition to all other requirements of the Colorado Gaming Regulations, this Rule 4.5

shall impose additional requirements on publicly traded corporations holding gaming

licenses in the state, and gaming licensees in the state owned directly or indirectly by a

publicly traded corporation, whether through a subsidiary or intermediary company

other than a corporation.

30-4.502

Application of Rule.

In addition to all other requirements of the Colorado Gaming Regulations, this Rule 4.5

shall impose additional requirements on publicly traded corporations holding gaming

licenses in the state, and gaming licensees in the state owned directly or indirectly by a

publicly traded corporation, whether through a subsidiary or intermediary company.

These requirements shall automatically apply to any ownership interest held by a

publicly traded corporation, holding company or intermediary company thereof, where

such ownership interest directly or indirectly is, or will be upon approval by the

Commission, five percent or more of the entire licensee. In any event, if the Commission

determines that a publicly traded corporation, or a subsidiary, intermediary company or

holding company thereof has the actual ability to exercise influence over a licensee,

regardless of the percentage of ownership possessed by said entity, the Commission

may require that entity to comply with the regulations contained in this Rule 4.5. Should

any requirement in this Rule 4.5 conflict with any other regulation in the Colorado

Gaming Regulations, this Rule 4.5 shall apply.

30-4.503

Public offerings.

A licensee or affiliated company or controlling person thereof commencing a public

offering of voting securities must notify the Commission, with regard to a public offering

to be registered with the SEC, no later than ten (10) business days after the initial filing

of a registration statement with the SEC, or, with regard to any other type of public

offering, no later than ten (10) business days prior to the public use or distribution of any

offering document, if:

(1)

If the licensee, affiliated company or a controlling person thereof intending to

issue the voting securities is not a publicly traded corporation; or

(10) business days after the initial filing

of a registration statement with the SEC, or, with regard to any other type of public

offering, no later than ten (10) business days prior to the public use or distribution of any

offering document, if:

(1)

If the licensee, affiliated company or a controlling person thereof intending to

issue the voting securities is not a publicly traded corporation; or

(2)

If the licensee, affiliated company or a controlling person thereof intending to

issue the voting securities is a publicly traded corporation, and if the proceeds of

the offering, in whole or in part, are intended to be used:

(a)

To pay for construction of gaming facilities in Colorado to be owned or

operated by the licensee;

(b)

To acquire any direct or indirect interest in gaming facilities in Colorado;

(c)

To finance the operation by the licensee of gaming facilities in Colorado;

or

(d)

To retire or extend obligations incurred for one or more purposes set forth

in subsection a, b or c of this regulation.

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30-4.504

Notification of public offering.

A person notifying the Commission of a public offering pursuant to this Rule 4.5 shall, to

the extent practical, disclose the following information:

(1)

A description of the voting securities to be offered;

(2)

The proposed terms upon which the voting securities are to be offered;

(3)

The anticipated gross and net proceeds of the offering, (Including a detailed list

of expenses);

(4)

The use of proceeds;

(5)

The name and address of the lead underwriter;

(6)

The forms of the underwriting agreement, the agreement among underwriters, if

any, and the selected dealers agreements, if any;

(7)

A statement of intended compliance with all applicable federal, state, local and

foreign securities laws;

(8)

The names and addresses of the applicant’s counsel for such public offering,

independent auditors, and special consultants on the offering;

d underwriter;

(6)

The forms of the underwriting agreement, the agreement among underwriters, if

any, and the selected dealers agreements, if any;

(7)

A statement of intended compliance with all applicable federal, state, local and

foreign securities laws;

(8)

The names and addresses of the applicant’s counsel for such public offering,

independent auditors, and special consultants on the offering;

(9)

If any voting securities to be issued are not to be offered to the general public,

the general nature of the offerees and the form of the offering; and

(10)

Any other offering material filed with the SEC which is required to be submitted

pursuant to the direction of the Division or Commission.

30-4.505

Fraudulent and deceptive practices prohibited.

It is grounds for disciplinary action under the Colorado Limited Gaining Act and

Colorado Gaming Regulations if any person, in connection with the purchase or sale of

any security issued by a licensee or affiliated company or a controlling person thereof, is

found guilty of, or pleads nolo contendere to, or is subject to a final cease and desist

order with respect to, or order of permanent injunction issued on the basis of, or is the

subject of a similar final action taken on the basis of, a violation of Rule 10b-5

promulgated by the SEC under Section 10(b) of the 1934 Act or section 11-51-501 of

the Colorado Revised Statutes.

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30-4.506

Submission of proxy and information statements.

Each publicly traded corporation which is licensed as an operator, retailer, associated

equipment supplier, or slot machine manufacturer or distributor under the Act, shall,

within 5 days after distributing any proxy statement subject to Regulation 14A of the

SEC or any information statement subject to Regulation 14C of the SEC to its security

holders, submit such proxy statement or information statement to the Division.

30-4.507

Reporting Requirements.

operator, retailer, associated

equipment supplier, or slot machine manufacturer or distributor under the Act, shall,

within 5 days after distributing any proxy statement subject to Regulation 14A of the

SEC or any information statement subject to Regulation 14C of the SEC to its security

holders, submit such proxy statement or information statement to the Division.

30-4.507

Reporting Requirements.

(1)

Whenever any filing on Form 10-Q, Form 10-K, Form 8-K, Form 1-A, Registration

Statement SB-2, Registration Statement 10-SB, Report 10-KSB, Report 10-QSB,

Schedule 13e-3 or Schedule 14D-9 or required by Rule 14f-l promulgated

pursuant to the 1934 Act is filed with the SEC or with any national or regional

securities exchange by a publicly traded corporation which is licensed as an

operator, retailer, associated equipment supplier, or slot machine manufacturer

or distributor under the Act, such publicly traded corporation shall, within 5

business days after the filing with the SEC, electronically notify the Division that

such filing has taken place. (amended perm. 11/30/03)

(2)

Whenever a publicly traded corporation which is licensed as an operator, retailer,

associated equipment supplier, or slot machine manufacturer or distributor under

the Act receives any material document filed with the SEC by any other person

relating to such publicly traded corporation, it shall, within 10 days following such

receipt, electronically notify the Division that such document receipt has

occurred. (amended perm. 11/30/03)

(3)

Each publicly traded corporation which is licensed as an operator, retailer,

associated equipment supplier, or slot machine manufacturer or distributor under

the Act shall file with the Division annually at the time of license renewal a list of

the record holders and beneficial owners (to the extent the later is known) of its

voting securities or more frequently as such list is prepared.

0/03)

(3)

Each publicly traded corporation which is licensed as an operator, retailer,

associated equipment supplier, or slot machine manufacturer or distributor under

the Act shall file with the Division annually at the time of license renewal a list of

the record holders and beneficial owners (to the extent the later is known) of its

voting securities or more frequently as such list is prepared.

(4)

Each licensee shall promptly report to the Division, on the form prescribed by the

Division, the election or appointment of any director, any executive officer or

other officers of such licensee (or holding company or intermediary company

thereof) actively and directly engaged in the administration or supervision of the

gaming activities of the licensee.

(5)

Whenever a publicly traded corporation which is licensed as an operator, retailer,

associated equipment supplier or slot machine manufacturer or distributor under

the Act is informed that any person determined by the Commission to be a

controlling person in respect of such publicly traded corporation has disposed of

any of such publicly traded corporation’s voting securities, such publicly traded

corporation shall thereupon promptly report such information to the Division.

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(6)

Each licensee and intermediary or holding company thereof shall file promptly

with the Division such other documents within its control as the Division or

Commission may lawfully request.

30-4.508

Required charter provisions.

The following provisions must be included in the articles of organization or similar

chartering documents of every entity licensed as an operator, retailer, associated

equipment supplier, or slot machine manufacturer or distributor under the Act:

The [corporation] [partnership] [limited liability company] shall not issue any voting

securities or other voting interests except in accordance with the provisions of the

Colorado Limited Gaming Act and the regulations promulgated thereunder

tering documents of every entity licensed as an operator, retailer, associated

equipment supplier, or slot machine manufacturer or distributor under the Act:

The [corporation] [partnership] [limited liability company] shall not issue any voting

securities or other voting interests except in accordance with the provisions of the

Colorado Limited Gaming Act and the regulations promulgated thereunder. The

issuance of any voting securities or other voting interests in violation thereof shall be

void and such voting securities or other voting interests shall be deemed not to be

issued and outstanding until (a) the [corporation] [partnership] [limited liability company]

shall cease to be subject to the jurisdiction of the Colorado Limited Gaming Control

Commission, or (b) the Colorado Limited Gaming Control Commission shall, by

affirmative action, validate said issuance or waive any defect in issuance.

No voting securities or other voting interests issued by the [corporation] [partnership]

(limited liability company] and no interest, claim or charge therein or thereto shall be

transferred in any manner whatsoever except in accordance with the provisions of the

Colorado Limited Gaming Act and the regulations promulgated thereunder. Any transfer

in violation thereof shall be void until (a) the [corporation] [partnership] [limited liability]

shall cease to be subject to the jurisdiction of the Colorado Limited Gaming - Control

Commission, or (b) the Colorado Limited Gaming Control Commission shall, by

affirmative action, validate said transfer or waive any defect in said transfer

Act and the regulations promulgated thereunder. Any transfer

in violation thereof shall be void until (a) the [corporation] [partnership] [limited liability]

shall cease to be subject to the jurisdiction of the Colorado Limited Gaming - Control

Commission, or (b) the Colorado Limited Gaming Control Commission shall, by

affirmative action, validate said transfer or waive any defect in said transfer.

If the Colorado Limited Gaming Control Commission at any time determines that a

holder of voting securities or other voting interests, then the issuer of such voting

securities or other voting interests may, within sixty (60) days after the finding of

unsuitability, purchase such voting securities or other voting interests of such unsuitable

person at the lesser of (i) the cash equivalent of such person’s investment in the

[corporation][partnership][limited liability company], or (ii) the current market price as of

the date of the finding of unsuitability unless such voting securities or other voting

interests are transferred to a suitable person (as determined by the Commission) within

sixty (60) days after the finding of unsuitability. Until such voting securities or other

voting interests are owned by persons found by the Commission to be suitable to own

them, (a) the [corporation] [partnership] [limited liability company] shall not be required

or permitted to pay any dividend or interest with regard to the voting securities or other

voting interests, (b) the holder of such voting securities or other voting interests shall not

be entitled to vote on any matter as the holder of the voting securities or other voting

interests, and such voting securities or other voting interests shall not for any purposes

be included in the voting securities or other voting interests of the [corporation]

[partnership] [limited liability company] entitled to vote, and (c) the [corporation]

[partnership] [limited liability company] shall not pay any remuneration in any form to the

holder of the voting securities or other voting

interests, and such voting securities or other voting interests shall not for any purposes

be included in the voting securities or other voting interests of the [corporation]

[partnership] [limited liability company] entitled to vote, and (c) the [corporation]

[partnership] [limited liability company] shall not pay any remuneration in any form to the

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holder of the voting securities or other voting interests except in exchange for such

voting securities or other voting interests as provided in this paragraph.

30-4.509

Suitability requirements.

(1)

Each person (including an institutional investor) who, individually or in

association with others, acquires, directly or indirectly, beneficial ownership of (i)

five percent or more of any class of voting securities of a publicly traded

corporation which is required to contain the charter provisions set forth in this

Rule 4.5, or (ii) five percent or more of the beneficial interest in a licensee directly

or indirectly through any class of voting securities of any holding company or

intermediary company of a licensee, shall notify the Division within ten (10) days

after such person acquires such securities and shall provide such additional

information and be subject to a finding of suitability as required by the Division or

Commission. A licensee shall notify each person who is subject to this regulation

of its requirements as soon as such corporation becomes aware of the

acquisition; provided that the obligations of the person subject to this regulation

are independent of, and unaffected by, such corporation’s failure to give such

notice.

(2)

Each person (other than an institutional investor which complies with subsection

sion. A licensee shall notify each person who is subject to this regulation

of its requirements as soon as such corporation becomes aware of the

acquisition; provided that the obligations of the person subject to this regulation

are independent of, and unaffected by, such corporation’s failure to give such

notice.

(2)

Each person (other than an institutional investor which complies with subsection

(4) below) who, individually or in association with others, acquires, directly or

indirectly, the beneficial ownership of (i) ten percent or more of any class of

voting securities of a publicly traded corporation which is required to contain the

charter provisions set forth in this Rule 4.5, or (ii) ten percent or more of the

beneficial interest in a licensee directly or indirectly through any class of voting

securities of any holding company or intermediary company of a licensee, must

apply to the Commission for a finding of suitability within forty-five (45) days after

acquiring such securities. A licensee shall notify each person who is subject to

this regulation of its requirements as soon as such corporation becomes aware of

the acquisition; provided that the obligations of the person subject to this

regulation are independent of, and unaffected by, such corporation’s failure to

give such notice.

(3)

Each institutional investor who, individually or in association with others,

acquires, directly or indirectly, the beneficial ownership of (i) twenty percent or

more of any class of voting securities of a publicly traded corporation which is

required to contain the charter provisions set forth in this Rule 4.5, or (ii) twenty

percent or more of the beneficial interest in a licensee directly or indirectly,

through any class of voting securities of any holding company or intermediary

company of a licensee, must apply to the Commission for a finding of suitability

within forty-five (45) days after acquiring such securities

ation which is

required to contain the charter provisions set forth in this Rule 4.5, or (ii) twenty

percent or more of the beneficial interest in a licensee directly or indirectly,

through any class of voting securities of any holding company or intermediary

company of a licensee, must apply to the Commission for a finding of suitability

within forty-five (45) days after acquiring such securities. A licensee shall notify

each person who is subject to this regulation of its requirements; provided that

the obligations of the person subject to this regulation are independent of, and

unaffected by, such corporation’s failure to give such notice.

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(4)

(a)

An institutional investor which otherwise would be subject to subsection

(2) of this regulation must, within forty-five (45) days after acquiring the

interests set forth in subsection (2), submit to the Division the following

information:

(i)

A description of the institutional investor’s business and a

statement as to why the institutional investor is within the definition

of “institutional investor” as set forth in this regulation;

(ii)

A certification made under oath and the penalty of perjury that the

voting securities were acquired and are held for investment

purposes only and were acquired and are held in the ordinary

course of business as an institutional investor and not for the

purposes of causing, directly or indirectly, the election of a majority

of the board of directors, any change in the corporate charter,

bylaws, management, policies, or operations of a licensee or

affiliated company. The signatory also shall explain the basis of his

authority to sign the certification and to bind the institutional

investor to its terms

as an institutional investor and not for the

purposes of causing, directly or indirectly, the election of a majority

of the board of directors, any change in the corporate charter,

bylaws, management, policies, or operations of a licensee or

affiliated company. The signatory also shall explain the basis of his

authority to sign the certification and to bind the institutional

investor to its terms. The certification also shall provide that the

institutional investor is bound by and shall comply with the Colorado

Limited Gaming Act and the regulations adopted thereunder, is

subject to the jurisdiction of the courts of Colorado, and consents to

Colorado as the choice of forum in the event any dispute, question,

or controversy arises regarding the application this regulation;

(iii)

The name, address, telephone number and social security number

of the officers and directors, or their equivalent, of the institutional

investor as well as those persons that have direct control over the

institutional investor’s holdings of voting securities of the licensee or

affiliated company;

(iv)

The name, address, telephone number and social security or

federal tax identification number of each person who has the power

to direct or control the institutional investor’s exercise of its voting

rights as a holder of voting securities of the licensee or affiliated

company;

(v)

The name of each person that beneficially owns five percent or

more of the institutional investor’s voting securities or other

equivalent;

(vi)

A list of the institutional investor’s affiliates;

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(vii)

A list of all securities of the licensee that are or were, directly or

indirectly, beneficially owned by the institutional investor or its

affiliates within the preceding year, setting forth a description of the

securities, their amount, and the date of acquisition or sale;

vi)

A list of the institutional investor’s affiliates;

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(vii)

A list of all securities of the licensee that are or were, directly or

indirectly, beneficially owned by the institutional investor or its

affiliates within the preceding year, setting forth a description of the

securities, their amount, and the date of acquisition or sale;

(viii)

A list of all regulatory agencies with which the institutional investor

or any affiliate that beneficially owns voting securities of the

licensee or affiliated company files periodic reports, and the name,

address, and telephone number of the person, if known, to contact

at each agency regarding the institutional investor;

(ix)

A disclosure of all criminal or regulatory sanctions imposed during

the precedin

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