N.Y. Comp. Codes R. & Regs. tit. 9 § 5110.4

Current through Register Vol. 46, No. 45, November 2, 2024

Section 5110.4 - Filing construction contractor information with the commission

(a) Each construction contractor that does business with a video lottery gaming agent shall complete and file a registration statement with the commission.

(b) Each video lottery gaming agent shall submit to the commission on a quarterly basis a list of all construction contractors with whom it transacts business. Such agent shall update such list submitted to the commission immediately upon entering into any agreement with a construction contractor to conduct such business.

(c) The commission may review the transaction documents between the video lottery gaming agent and any construction contractor to determine the following:

(1) the reasonableness of the terms of the transaction, including the terms of compensation;

(2) the qualifications of the persons involved in and associated with the transaction in accordance with the standards of these regulations.

(d) If the commission disapproves of a transaction between the video lottery gaming agent and any construction contractor or any person associated therewith, the commission may direct the video lottery gaming agent to terminate such transaction or may direct such agent to pursue any remedy or combination of remedies as the commission may require. If such disapproved transaction is not thereafter promptly terminated, such failure shall be a violation of such agent's license and the commission may pursue such remedy or combination of remedies against a video lottery gaming agent provided for in these regulations.

(e) The commission reserves the right to require any construction contractor to apply for a construction contractor identification number, regardless of whether the monetary threshold set forth in this Part has been met, if it is deemed necessary by the commission in order to protect the public interest, or to accomplish the policies and purposes of the act or these regulations.

(f) Construction contractors may be required to pay a registration fee as determined by the commission.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5110.4