HB 519 creates the
Ohio Casino Control Commission (Commission) and authorizes casino gaming in the State. The new law requires casino operators to post a $1 million surety bond conditioned on compliance with the applicable laws and regulations. The bond must be from a surety licensed to do business in the State. The surety’s total aggregate liability is limited to the amount specified in the bond. The
surety must give ten days notice to cancel the bond for nonpayment of premium and must give 30-days notice to cancel for any other reason. Further, the Executive Director of the Commission must post a $25,000 surety bond conditioned on the faithful performance of the duties of his or her office. The bond must be issued by a surety authorized to do business in the State; and it may be an individual, schedule or a blanket bond. Each member of the Commission must post a $10,000 bond as well. Finally, the new law provides procedures for placing a casino into a conservatorship under certain conditions. The conservator must post a surety bond to secure the faithful performance of his or her duties. The Commission will determine the amount required. ENACTED: 06/10/2010