LD 1370
pg. 4
Page 3 of 20 An Act To Enact the Maine Tribal Gaming Act Page 5 of 20
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LR 2023
Item 1

 
17.__Principal.__"Principal" means with respect to an
enterprise:

 
A.__Each of its officers and directors;

 
B.__Each of its principal management employees, including
any chief executive officer, chief financial officer,
chief operating officer or general manager;

 
C.__Each of its general partners if the enterprise is a
general or limited partnership;

 
D.__Each of its managing members if the enterprise is a
limited liability company;

 
E.__Each of its shareholders who owns more than 10% of the
shares of the enterprise if the enterprise is a
corporation;

 
F.__Each of its owners or partners if the enterprise is an
unincorporated business other than a limited partnership
or a limited liability company; and

 
G.__Each person, other than a banking institution, pension
fund, commercial finance company, equipment leasing
company, investment bank, qualified institutional buyer as
defined in Rule 144A of the United States Securities and
Exchange Commission, insurance company, regulated
investment company, other financial institution, state of
the United States, political subdivision of a state of the
United States and agency, authority or instrumentality of
a state or political subdivision, that has provided
financing for the enterprise constituting more than 10% of
the total financing of the enterprise provided that a
person who purchases indebtedness of an enterprise through
a nationally recognized securities exchange or bond
trading system is not considered a principal.

 
18.__Site.__"Site" means one or more contiguous parcels of
land selected by the Tribes and owned or leased by the Tribes
or a tribal gaming operator within a single city, town or
plantation of the State or within 2 or more contiguous cities,
towns or plantations of the State provided that the
legislative body of each such city, town or plantation has
approved such parcel or parcels for the conduct of all gaming
operations permitted under this subchapter.__The site may not
be reservation lands of either of the Tribes, may not be
Indian lands within the meaning of 25 United States Code,
Section 2703, may not be Indian country within the meaning of
the Johnson Act, 15 United States Code, Section 1175 and may
not be Passamaquoddy Indian territory or Penobscot Indian
territory within the meaning of the Maine


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