1. Any person who the Commission determines is qualified to receive a license, to be found suitable or to receive any approval required under the provisions of this chapter, or to be found suitable regarding the operation of a charitable lottery under the provisions of chapter 462 of NRS, having due consideration for the proper protection of the health, safety, morals, good order and general welfare of the inhabitants of the State of Nevada and the declared policy of this State, may be issued a state gaming license, be found suitable or receive any approval required by this chapter, as appropriate. The burden of proving an applicants qualification to receive any license, be found suitable or receive any approval required by this chapter is on the applicant. 2. An application to receive a license or be found suitable must not be granted unless the Commission is satisfied that the applicant is: (a) A person of good character, honesty and integrity; (b) A person whose prior activities, criminal record, if any, reputation, habits and associations do not pose a threat to the public interest of this State or to the effective regulation and control of gaming or charitable lotteries, or create or enhance the dangers of unsuitable, unfair or illegal practices, methods and activities in the conduct of gaming or charitable lotteries or in the carrying on of the business and financial arrangements incidental thereto; and (c) In all other respects qualified to be licensed or found suitable consistently with the declared policy of the State. 3. A license to operate a gaming establishment must not be granted unless the applicant has satisfied the Commission that: (a) The applicant has adequate business probity, competence and experience, in gaming or generally; and (b) The proposed financing of the entire operation is: (1) Adequate for the nature of the proposed operation; and (2) From a suitable source. Any lender or other source of money or credit which the Commission finds does not meet the standards set forth in subsection 2 may be deemed unsuitable. 4. An application to receive a license or be found suitable constitutes a request for a determination of the applicants general character, integrity, and ability to participate or engage in, or be associated with gaming or the operation of a charitable lottery, as appropriate. Any written or oral statement made in the course of an official proceeding of the Board or Commission by any member thereof or any witness testifying under oath which is relevant to the purpose of the proceeding is absolutely privileged and does not impose liability for defamation or constitute a ground for recovery in any civil action. 5. The Commission may in its discretion grant a license to: (a) A publicly traded corporation which has complied with the provisions of NRS 463.625 to 463.643 , inclusive; (b) Any other corporation which has complied with the provisions of NRS 463.490 to 463.530 , inclusive; (c) A limited partnership which has complied with the provisions of NRS 463.564 to 463.571 , inclusive; and (d) A limited-liability company which has complied with the provisions of NRS 463.5731 to 463.5737 , inclusive. 6. No limited partnership, except one whose sole limited partner is a publicly traded corporation which has registered with the Commission, or a limited-liability company, or business trust or organization or other association of a quasi-corporate character is eligible to receive or hold any license under this chapter unless all persons having any direct or indirect interest therein of any nature whatever, whether financial, administrative, policymaking or supervisory, are individually qualified to be licensed under the provisions of this chapter. 7. The Commission may, by regulation: (a) Limit the number of persons who may be financially interested and the nature of their interest in any corporation, other than a publicly traded corporation, limited partnership, limited-liability company or other organization or association licensed under this chapter; and (b) Establish such other qualifications for licenses as it may, in its discretion, deem to be in the public interest and consistent with the declared policy of the State. 8. Any person granted a license or found suitable by the Commission shall continue to meet the applicable standards and qualifications set forth in this section and any other qualifications established by the Commission by regulation. The failure to continue to meet such standards and qualifications constitutes grounds for disciplinary action.
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