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PROPOSED ORDINANCE AMENDMENT
ARTICLE XIV. - VIDEO GAMING
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 54 - Licenses, Permits and Miscellaneous Business Regulations, Article XIV. Video Gaming, Section 54-433 of the Cook County Code is hereby amended as Follows:
Sec. 54-424. - Short title.
This Article shall be known and may be cited as the "Video Gaming Ordinance."
Sec. 54-433. - Licensing procedures.
(a) Applications.
(1) Application Forms. Applications for licensure or renewal shall be submitted on applications and forms provided by the County.
(2) Additional Materials. An applicant or its affiliate may be required to submit forms or materials in addition to an application as required by subsection (a)(1) of this section.
(3) Number of video gaming terminals sought. Applicants must include on their application the number of video gaming terminals it will have in the licensed video gaming location. A separate license fee is applicable to each video gaming terminal. This fee is not applicable to a specific video gaming terminal but allows for placement of that number of terminals in the licensed video gaming location. It shall be a violation of this Article for any licensee to have more video gaming terminals than the number included on the application and for which a license is issued.
(4) Institutional investor.
(A) A business entity that qualifies as an institutional investor may submit a video gaming institutional investor disclosure form in lieu of a video gaming business entity disclosure form as instructed in an application if the institutional investor:
(i) Submits a video gaming institutional investor disclosure form to the Illinois Gaming Board and the County within 45 days after the institutional investor individually or jointly with others cumulatively acquires, directly or indirectly, five percent or more but less than 20 percent of any class of publicly traded securities issued by a corporate ...
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