(1) A person shall not receive any consideration, direct or indirect, for conducting a tournament or contest in which persons pay a fee for the privilege of participating and in which prizes are awarded to winners, on behalf of or in conjunction with a gaming licensee, unless he has registered with the executive director in the manner prescribed by the commission and supplies such information as the executive director requires or unless he is an officer or employee of the licensee.
(2) Any person who conducts a tournament or contest on behalf of or in conjunction with a gaming licensee may be required by the commission to be licensed by it as well as registered with the executive director. Any person so required must apply for a license within thirty (30) days after the decision of the commission requiring him to obtain a license.
(3) If any person required to be licensed pursuant to subsection (2) of this section:
(a) Does not apply for a license within thirty (30) days after the decision of the commission that he must be licensed, and the commission finds him unsuitable for that reason; or
(b) Is denied a license,
the gaming licensee with whom he is associated shall terminate that association upon notification from the commission by registered or certified mail of its action.
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