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Current as of January 01, 2024 | Updated by FindLaw Staff
The following persons are considered to have control of an applicant:
(1) Each person associated with a corporate applicant, including any corporate holding company, parent company or subsidiary company of the applicant, but not including a bank or other licensed lending institution which holds a mortgage or other lien acquired in the ordinary course of business, who has the ability to control the activities of the corporate applicant or elect a majority of the board of directors of that corporation.
(2) Each person associated with a noncorporate applicant who directly or indirectly holds any beneficial or proprietary interest in the applicant or who the commission determines to have the ability to control the applicant.
(3) Key personnel of an applicant, including any executive, employee or agent, having the power to exercise significant influence over decisions concerning any part of the applicant's business operation.
Cite this article: FindLaw.com - West Virginia Code Chapter 29. Miscellaneous Boards and Officers § 29-22B-507. Persons having control of an applicant for a limited video lottery license - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-29-miscellaneous-boards-and-officers/wv-code-sect-29-22b-507/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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