Bill Text: CA SB1361 | 2013-2014 | Regular Session | Introduced

California Senate Bill 1361 (Prior Session Legislation)

Introduced

Bill Title: Gambling control.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-03-17 - Referred to Com. on RLS. [SB1361 Detail]

Download: California-2013-SB1361-Introduced.html

BILL NUMBER: SB 1361	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Berryhill

                        FEBRUARY 21, 2014

   An act to amend Section 19906 of the Business and Professions
Code, relating to gaming.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1361, as introduced, Berryhill. Gambling control.
   The Gambling Control Act provides for the licensure of certain
individuals and establishments involved in various gambling
activities, and for the regulation of those activities, by the
California Gambling Control Commission, and defines a gambling
enterprise for these purposes. Existing law requires a contract for
the sale of a gambling enterprise to state whether any outstanding
gaming chips from the seller will be honored by the purchaser. Prior
to any action of the commission on the proposed contract for sale of
the gambling enterprise, existing law requires the Department of
Justice to determine the amount of the seller's outstanding gaming
chip liability, and requires the seller to satisfy the commission
that the amount of liability is safeguarded by a form of security
sufficient to satisfy the redemption of outstanding gaming chips.
   This bill would make technical, nonsubstantive changes to this
provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 19906 of the Business and Professions Code is
amended to read:
   19906.  (a) A contract for the sale of a gambling enterprise shall
state whether any outstanding gaming chips from the seller will be
honored by the purchaser. If the contract does not require the
purchaser to honor the outstanding gaming chips used by the seller,
then the contract shall indicate what provisions have been made for
the redemption of  any  outstanding gaming chips as of the
closing date of the sale.
   (b) Prior to any action of the commission on the proposed contract
for sale of the gambling enterprise, the department shall determine
the amount of the seller's outstanding gaming chip liability. The
seller shall satisfy the commission that the amount of liability is
safeguarded by a surety bond, escrow account, or other form of
security sufficient to guarantee the availability of funds for the
redemption of  any  outstanding gaming chips. The seller
shall give notice to the patrons of the gambling enterprise in order
to provide an adequate opportunity for redemption of any outstanding
gaming chips.