California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 5 — The Gambling Control ActArticle 5 — Licensing of CorporationsSection 19881
(a) A corporation is not eligible to receive a license to own a gambling enterprise unless the conduct of controlled gambling is among the purposes stated in its articles of incorporation and the articles of incorporation have been submitted to and approved by the department.
(b) The Secretary of State shall not accept for filing any articles of incorporation of any corporation that include as a stated purpose the conduct of controlled gambling, or any amendment thereto, or any amendment that adds this purpose to articles of incorporation already filed, unless the articles have, or amendment has, been approved by the department.
Notes
Prohibits a corporation from receiving a gambling-enterprise owner license unless controlled gambling is a stated corporate purpose and the articles of incorporation have been submitted to and approved by the department. Prohibits the Secretary of State from filing articles or amendments stating or adding that purpose unless the department has approved them.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19881 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-5/article-5/section-19881