{"data":{"id":"us-ms/miss.-code-ann.-75-76-207","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 75-76-207","heading":"Approval of commission required for any disposition of securities of licensed corporation; finding of unsuitability of individual owner of security; effect of finding of unsuitability; certificate evidencing security to bear statement of restrictions.","body":"(1) The purported sale, assignment, transfer, pledge or other disposition of any security issued by a corporation which holds a state gaming license or the granting of an option to purchase such a security is void unless approved in advance by the commission.\n(2) If at any time the commission finds that an individual owner of any such security is unsuitable to continue as a gaming licensee in this state, the owner shall immediately offer the security to the issuing corporation for purchase. The corporation shall purchase the security so offered, for cash at fair market value, within ten (10) days after the date of the offer.\n(3) Beginning upon the date when the commission serves upon the corporation notice of a determination of unsuitability pursuant to subsection (2), it is unlawful for the unsuitable owner:\n(a) To receive any dividend or interest upon any such security;\n(b) To exercise, directly or through any trustee or nominee, any voting right conferred by such security; or\n(c) To receive any remuneration in any form from the corporation, for services rendered or otherwise.\n(4) Every security issued by a corporation which holds a gaming license must bear a statement, on both sides of the certificate evidencing the security, of the restrictions imposed by this section.","path":["Title 75. Regulation of Trade, Commerce and Investments","Chapter 76. Mississippi Gaming Control Act","Issuance of Gaming Licenses to Corporations, Limited Partnerships, Holding Companies, Intermediary Companies and Publicly Traded Corporations"],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.75.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:13Z","sha256":"3f1ad861770524b5c8ad2834cc47e21c7fa3cfaa62f7e08d07b4318296522086","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-75-76-205","next":"us-ms/miss.-code-ann.-75-76-209","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}