New Hampshire Revised Statutes 284:16-b – Condition of Licensee
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I. The lottery commission shall monitor the condition of its licensees on a continuing basis and shall have the power to revoke, after hearing, any license if in its judgment the condition of the holder thereof does not warrant a continuation of said license, or, in lieu of revocation, to impose such conditions upon the continued possession of the license as the lottery commission deems reasonably necessary.
II. The lottery commission, after conducting a hearing, may require a licensee to divest itself of any partner, person, sub-corporation, shareholder, or any other entity of the licensee if the lottery commission determines that any partner, person, sub-corporation, shareholder, or any other entity of the licensee is not suitable to be associated with racing in this state.
III. The licensee shall notify the lottery commission of any change of, or transfer of any of the owners of the voting stock or other voting interest, if the licensee is privately held. In the case of a publicly-traded entity holding the license, the lottery commission shall be notified of any changes to the board of directors, or when more than 10 percent of the publicly-held shares or other voting interest are closely held by one entity. The licensee shall provide such notice to the lottery commission in writing within 10 days of the occurrence of any such event. On receipt of such notice, the lottery commission shall assess whether the change in ownership affects the licensee’s qualifications for continued licensure.
II. The lottery commission, after conducting a hearing, may require a licensee to divest itself of any partner, person, sub-corporation, shareholder, or any other entity of the licensee if the lottery commission determines that any partner, person, sub-corporation, shareholder, or any other entity of the licensee is not suitable to be associated with racing in this state.
Terms Used In New Hampshire Revised Statutes 284:16-b
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. The licensee shall notify the lottery commission of any change of, or transfer of any of the owners of the voting stock or other voting interest, if the licensee is privately held. In the case of a publicly-traded entity holding the license, the lottery commission shall be notified of any changes to the board of directors, or when more than 10 percent of the publicly-held shares or other voting interest are closely held by one entity. The licensee shall provide such notice to the lottery commission in writing within 10 days of the occurrence of any such event. On receipt of such notice, the lottery commission shall assess whether the change in ownership affects the licensee’s qualifications for continued licensure.