California 2017-2018 Regular Session Status: In Committee 1 D cosponsors

AB 1331 — Gambling licenses: corporations.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

The Gambling Control Act, among other things, provides the qualifications and procedures for a corporation to be licensed as the owner of a gambling enterprise and requires shareholders, lenders, and holders of evidence of indebtedness, among other types of individuals doing business on behalf of or with the corporation to be licensed individually. An individual who owns any security issued by a licensed corporation and who has been denied a license or had a license revoked is required to sell the security for an amount not greater than fair market value within 60 calendar days of the license denial or revocation, unless that 60-day time period is extended, as specified. This bill would extend certain time periods relating to the licensing of individuals doing business on behalf of or with a corporation that is licensed as the owner of a gambling enterprise. The bill would extend the time period that an individual is required to sell a security in the corporation from 60 to 75 calendar days upon the individual's license denial or revocation. The bill would modify the time period for a corporation to notify the Department of Justice of a change in a corporate officer, director, or key employee from 10 business days to 20 calendar days and extend the time period for when that individual is required to apply for his or her license from 30 to 40 calendar days after he or she becomes an officer, director, or key employee.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. Re-referred to Com. on G.O.

  4. From committee chair, with author's amendments: Amend, and re-refer to Com. on G.O. Read second time and amended.

  5. Referred to Com. on G.O.

  6. From printer. May be heard in committee March 21.

  7. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

public-safety finance
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Frequently asked questions

What does AB 1331 do?
The Gambling Control Act, among other things, provides the qualifications and procedures for a corporation to be licensed as the owner of a gambling enterprise and requires shareholders, lenders, and holders of evidence of indebtedness, among other types of individuals doing business on behalf of or with the corporation to be licensed individually. An individual who owns any security issued by a licensed corporation and who has been denied a license or had a license revoked is required to sell the security for an amount not greater than fair market value within 60 calendar days of the license denial or revocation, unless that 60-day time period is extended, as specified. This bill would extend certain time periods relating to the licensing of individuals doing business on behalf of or with a corporation that is licensed as the owner of a gambling enterprise. The bill would extend the time period that an individual is required to sell a security in the corporation from 60 to 75 calendar days upon the individual's license denial or revocation. The bill would modify the time period for a corporation to notify the Department of Justice of a change in a corporate officer, director, or key employee from 10 business days to 20 calendar days and extend the time period for when that individual is required to apply for his or her license from 30 to 40 calendar days after he or she becomes an officer, director, or key employee.
Who sponsors AB 1331?
AB 1331 is sponsored by Gipson, Mike A. (Democratic).
What is the current status of AB 1331?
This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 1331?
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