Martin O'Malley, Governor

Ch. 4

9-1A-19.

(A)      EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, A
LICENSE ISSUED UNDER THIS SUBTITLE MAY NOT BE:

(1)      TRANSFERRED OR ASSIGNED TO ANOTHER PERSON; OR

(2)      PLEDGED AS COLLATERAL.

(B)      (1) A LICENSEE MAY NOT SELL OR OTHERWISE TRANSFER MORE
THAN 5% OF THE LEGAL OR BENEFICIAL INTERESTS OF THE LICENSEE UNLESS:

(I) THE LICENSEE NOTIFIES THE COMMISSION OF THE
PROPOSED SALE OR TRANSFER:

(II) the Commission determines that the proposed
buyer or transferee meets the requirements of this subtitle: and

(iii) the transfer is consistent with the policies and
intent of § 9-1a-18 of this subtitle.

(2) Unless the Commission needs a longer time to
determine whether the proposed buyer or transferee meets the
requirements of this subtitle. if the requirements of paragraph (1)
of this subsection are not satisfied. a license issued under this
subtitle is automatically revoked 90 days after the sale or
transfer.

9-1A-20.

(a)     in this section. "approved vendor" means a person that:

(1)     specializes in conducting background investigations:

(2)     has experience in the gaming industry: and

(3)     obtains the approval of the commission to conduct
background investigations under this section.

(b)     The Department of State Police or an approved vendor

SHALL:

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