New Mexico § 60-2E-3 - Definitions

§ 60-2E-3. Definitions

As used in the Gaming Control Act: A. “ affiliate ” means a person who, directly or indirectly through one or more intermediaries, controls,

is controlled by or is under common control with a specified person; B. “ affiliated company ” means a company that: (1) controls, is controlled by or is under common control with a company licensee;

and (2) is involved in gaming activities or involved in the ownership of property on which

gaming is conducted; C. “ applicant ” means a person who has applied for a license or for approval of an act or transaction

for which approval is required or allowed pursuant to the provisions of the Gaming

Control Act; D. “ application ” means a request for the issuance of a license or for approval of an act or transaction

for which approval is required or allowed pursuant to the provisions of the Gaming

Control Act, but “application” does not include a supplemental form or information

that may be required with the application; E. “ associated equipment ” means equipment or a mechanical, electromechanical or electronic contrivance, component

or machine used in connection with gaming activity; F. “ board ” means the gaming control board; G. “ certification ” means a notice of approval by the board of a person required to be certified by

the board; H. “ cheat ” or “ cheating ” means to alter the element of chance, the method of selection or other criteria

in a manner that determines: (1) the result of the game; (2) the amount or frequency of payment in a game, including taking advantage of a

malfunctioning machine; (3) the value of a wagering instrument; or (4) the value of a wagering credit; I. “ company ” means a corporation, partnership, limited partnership, trust, association, joint

stock company, joint venture, limited liability company or other form of business

organization that is not a natural person; “company” does not mean a nonprofit organization; J. “ distributor ” means a person who supplies gaming devices to a gaming operator but does not manufacture

gaming devices; K. “ equity security ” means an interest in a company that is evidenced by: (1) voting stock or similar security; (2) a security convertible into voting stock or similar security, with or without

consideration, or a security carrying a warrant or right to subscribe to or purchase

voting stock or similar security; (3) a warrant or right to subscribe to or purchase voting stock or similar security;

or (4) a security having a direct or indirect participation in the profits of the issuer; L. “ executive director ” means the chief administrative officer appointed by the board pursuant to Section 60-2E-7 NMSA 1978; M. “ finding of suitability ” means a certification of approval issued by the board permitting a person to be

involved directly or indirectly with a licensee, relating only to the specified involvement

for which it is made; N. “ foreign institutional investor ” means: (1) a government-related pension plan of a foreign government; or (2) a person that meets the requirement of a qualified institutional buyer as defined

by the governing financial regulatory agency of the foreign country in which the company's

primary operations are located and is registered or licensed in that country as a

bank, an insurance company, an investment company, an investment advisor, a collective

trust fund, an employee benefit plan or pension fund sponsored by a publicly traded

corporation registered with the board or a group composed entirely of entities specified

in this subsection; O. “ game ” means an activity in which, upon payment of consideration, a player receives a prize

or other thing of value, the award of which is determined by chance even though accompanied

by some skill; “game” does not include an activity played in a private residence

in which no person makes money for operating the activity except through winnings

as a player; P. “ gaming ” means offering a game for play; Q. “ gaming activity ” means an endeavor associated with the manufacture or distribution of gaming devices

or the conduct of gaming; R. “ gaming device ” means associated equipment or a gaming machine and includes a system for processing

information that can alter the normal criteria of random selection that affects the

operation of a game or determines the outcome of a game; S. “ gaming employee ” means a person connected directly with a gaming activity; “gaming employee” does

not include: (1) bartenders, cocktail servers or other persons engaged solely in preparing or serving

food or beverages; (2) secretarial or janitorial personnel; (3) stage, sound and light technicians; or (4) other nongaming personnel; T. “ gaming establishment ” means the premises on or in which gaming is conducted; U. “ gaming machine ” means a mechanical, electromechanical or electronic contrivance or machine that,

upon insertion of a coin, token or similar object, or upon payment of any consideration,

is available to play or operate a game, whether the payoff is made automatically from

the machine or in any other manner; V. “ gaming operator ” means a person who conducts gaming; W. “ holding company ” means a company that directly or indirectly owns or has the power or right to control

a company that is an applicant or licensee, but a company that does not have a beneficial

ownership of more than ten percent of the equity securities of a publicly traded corporation

is not a holding company; X. “ immediate family ” means natural persons who are related to a specified natural person by affinity

or consanguinity in the first through the third degree; Y. “ independent administrator ” means a person who administers an annuity, who is not associated in any manner with

the gaming operator licensee for which the annuity was purchased and is in no way

associated with the person who will be receiving the annuity; Z. “ institutional investor ” means: (1) a foreign institutional investor; (2) a state or federal government pension plan; or (3) a person that meets the requirements of a qualified institutional buyer as defined

in Rule 144A of the federal Securities Act of 1933, 1 and is: (a) a bank as defined in Section 3(a)(6) of the federal Securities Exchange Act of

1934; 2 (b) an insurance company as defined in Section 2(a)(17) of the federal Investment

Company Act of 1940; 3 (c) an investment company registered under Section 8 of the federal Investment Company

Act of 1940; 4 (d) an investment adviser registered under Section 203 of the federal Investment Advisers

Act of 1940; 5 (e) collective trust funds as defined in Section 3(c)(11) of the federal Investment

Company Act of 1940; 6 (f) an employee benefit plan or pension fund that is subject to the federal Employee

Retirement Income Security Act of 1974, 7 excluding an employee benefit plan or pension fund sponsored by a publicly traded

corporation registered with the board; or (g) a group comprised entirely of persons specified in Subparagraphs (a) through (f)

of this paragraph; AA. “ intermediary company ” means a company that: (1) is a holding company with respect to a company that is an applicant or licensee;

and (2) is a subsidiary with respect to any holding company; BB. “ key executive ” means an executive of a licensee or other person having the power to exercise significant

influence over decisions concerning any part of the licensed operations of the licensee

or whose compensation exceeds an amount established by the board in a rule; CC. “ license ” means an authorization required by the board for engaging in gaming activities; DD. “ licensee ” means a person to whom a valid license has been issued; EE. “ manufacturer ” means a person who manufactures, fabricates, assembles, produces, programs or makes

modifications to any gaming device for use or play in New Mexico or for sale, lease

or distribution outside New Mexico from any location within New Mexico; FF. “ net take ” means the total of the following, less the total of all cash paid out as losses

to winning patrons and those amounts paid to purchase annuities to fund losses paid

to winning patrons over several years by independent administrators: (1) cash received from patrons for playing a game; (2) cash received in payment for credit extended by a licensee to a patron for playing

a game; and (3) compensation received for conducting a game in which the licensee is not a party

to a wager; GG. “ nonprofit organization ” means: (1) a bona fide chartered or incorporated branch, lodge, order or association, in

existence in New Mexico prior to January 1, 1997, of a fraternal organization that

is described in Section 501(c)(8) or (10) of the federal Internal Revenue Code of 1986 and that is exempt from federal income taxation pursuant to Section 501(a) of that

code; or (2) a bona fide chartered or incorporated post, auxiliary unit or society of, or a

trust or foundation for the post or auxiliary unit, in existence in New Mexico prior

to January 1, 1997, of a veterans' organization that is described in Section 501(c)(19) or (23) of the federal Internal Revenue Code of 1986 and that is exempt from federal income taxation pursuant to Section 501(a) of that

code; HH. “ person ” means a legal entity; II. “ premises ” means land, together with all buildings, improvements and personal property located

on the land; JJ. “ progressive jackpot ” means a prize that increases over time or as gaming machines that are linked to

a progressive system are played and upon conditions established by the board may be

paid by an annuity; KK. “ public post-secondary educational institution ” means an institution designated in Article 12, Section 11 of the constitution of New Mexico or an institution designated in Chapter 21, Article 13 , 14 or 16 NMSA 1978; LL. “ progressive system ” means one or more gaming machines linked to one or more common progressive jackpots; MM. “ publicly traded corporation ” means a corporation that: (1) has one or more classes of securities registered pursuant to the securities laws

of the United States or New Mexico; (2) is an issuer subject to the securities laws of the United States or New Mexico;

or (3) has one or more classes of securities registered or is an issuer pursuant to applicable

foreign laws that, the board finds, provide protection for institutional investors

that is comparable to or greater than the stricter of the securities laws of the United

States or New Mexico; NN. “ registration ” means a board action that authorizes a company to be a holding company with respect

to a company that holds or applies for a license or that relates to other persons

required to be registered pursuant to the Gaming Control Act; OO. “ subsidiary ” means a company, all or a part of whose outstanding equity securities are owned,

subject to a power or right of control or held, with power to vote, by a holding company

or intermediary company; PP. “ technician ” means a person approved by the board to repair and service gaming devices or associated

equipment but who is prohibited from programming gaming devices; and QQ. “ work permit ” means a card, certificate or permit issued by the board, whether denominated as

a work permit, registration card or otherwise, authorizing the employment of the holder

as a gaming employee. 1

15 U.S.C.A. § 77a et seq. 2

15 U.S.C.A. § 78c(a)(6). 3

15 U.S.C.A. § 80a-2(a)(17). 4

15 U.S.C.A. § 80a-8. 5

15 U.S.C.A. § 80b-3. 6

15 U.S.C.A. § 3(c)(11). 7

29 U.S.C.A. § 1001 et seq.