Made available by
Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.
You can also go to The Alaska Legal Resource Center or search the entire website search.
|
(a) A municipality or qualified organization must obtain a permit under AS 05.15.020 before applying to become a member of a multiple-beneficiary permittee.
(b) A multiple-beneficiary permittee with fewer than six members may add an additional member by filing an amended application with the department, if the addition of the new member does not result in the multiple-beneficiary permit cumulatively having more than six members in a calendar year.
(c) An application for a multiple-beneficiary permit must include a copy of the joint venture agreement among the members, including the percentage of participation in gross receipts for each member.
(d) A multiple-beneficiary permittee shall allocate taxes, prizes, and expenses in the proportion that it allocates gross receipts among its members, but no member may be allocated a sales tax liability for sales that were not subject to a sales tax.
(e) A multiple-beneficiary permittee may allocate gross receipts, taxes, prizes or expenses to a new member only from the date that the department approves the addition of the new member.
(f) A multiple-beneficiary permittee may not allocate to an individual member permittee more than the annual prize limit for a municipality or qualified organization under AS 05.15.180 (g) or 15 AAC 160.600(a) .
(g) A multiple-beneficiary permittee shall pay net proceeds to its member permittees on a quarterly basis no later than the end of the month following the end of each calendar quarter.
(h) A multiple-beneficiary permittee may not spend or otherwise dedicate net proceeds except to distribute the net proceeds to its member permittees.
(i) A multiple-beneficiary permittee or its member permittees may not sublease gaming facilities to another multiple-beneficiary permittee or its member permittees at a price higher than that paid by the multiple-beneficiary permittee.
(j) The results of an action taken against a multiple-beneficiary permittee shall apply to the individual permits of those members of the multiple-beneficiary permittee who were members at the time of the violation that was the subject of the action.
(k) The department shall notify the primary member in charge of a multiple-beneficiary permittee regarding a violation by one of its member permittees of AS 05.15 or this chapter.
( l ) Individual members of the multiple-beneficiary permittee shall jointly file the annual certified public accountant review required by 15 AAC 160.310(a) .
(m) Each member of a multiple-beneficiary permittee must be actively involved in the gaming activities conducted by the multiple-beneficiary permittee, including management oversight, policy setting, and authorization of expenditures.
(n) A multiple-beneficiary permittee may not contract with an operator.
History: Eff. 1/1/2003, Register 164; am 9/3/2005, Register 175
Authority: AS 05.15.020
Note to HTML Version:
The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.
If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.
Last modified 7/05/2006