(b) The commission may consider the effects of the action or approval requested by the applicant, the benefits to the State of Arkansas, and whatever other facts are deemed relevant, including, but not limited to, the following:

1. (1)

   1. (A) Whether the applicant, either individually or in conjunction with other members, has any direct or indirect control or significant influence over a manager or over the management of the limited liability company’s business or gaming operations, or the ability to acquire such control.
   2. (B) The limited liability company’s operating agreement will be scrutinized to determine if it has clear and specific provisions covering the following:

(i) Restricting the priority rights with respect to income, losses, or other distributions, whether during the term of the limited liability company or upon its dissolution, of members seeking delayed licensing;

1. (ii) Vesting the managers or the members with the sole and exclusive right to manage and control the limited liability company’s business;

   1. (iii) Defining the scope of the manager’s authority and any limitations thereon;

      1. (iv) Restricting the right of members to remove or elect managers, except to the extent necessary to elect a manager pursuant to state or federal law, or this part, or upon the retirement, death, or disability of a manager who is a natural person; and
      2. (v) Whether any additional assessment or capital contribution can be required of the members;

2. (2)

   1. (A) Whether the applicant has, or has had, a material relationship with a manager.
   2. (B) Applicants who have a familial relationship, either by blood, marriage, or adoption, to a manager, may be deemed to have such a material relationship;
3. (3) The communality of other business interests between a manager and any member prior to, or existing at, formation of the limited liability company;
4. (4) Whether the applicant had a key role in forming the limited liability company;
5. (5) The relative level of risk for each manager;
6. (6) The business probity of each manager, in gaming or otherwise;
7. (7) The presence or absence of restrictions on the members;
8. (8) Whether a substantial portion of the assets of the limited liability company were owned by only one (1) or more members prior to formation of the limited liability company;
9. (9) Whether substantial proportion of the depreciable assets involved in the proposed gaming operation will be owned by the limited liability company;

10. (10)

    1. (A) The number of persons and entities involved in the limited liability company.
    2. (B) The commission will not ordinarily grant delayed licensing status to a limited liability company with fewer than twenty-five (25) members;
11. (11) The various percentage ownership interests in the limited liability company;
12. (12) Whether any member has obligated his or her personal assets as a guaranty for the limited liability company or made any loans to the limited liability company in any manner whatsoever;
13. (13) The terms of any agreement that provides for a buyout of a member’s interest in the event that a member is found unsuitable for licensing;
14. (14) The presence or absence of any tax benefit to the member; and

15. (15)

    1. (A) Postapproval monitoring after approval of delayed licensing.
    2. (B) The operating agreement of a limited liability company that seeks delayed licensing must contain language to the effect that the licensing of any member granted delayed licensing may be activated at any time pursuant to this subpart.
    3. (C) The granting of delayed licensing to a member by the commission shall be a revocable approval.
    4. (D) The commission shall not relinquish jurisdiction.
    5. (E) Any member receiving approval for delayed licensing from the commission has no legal vested right or privilege inherent in that approval, nor shall the members that have been granted delayed licensing accrue any privilege from the licensing of the limited liability company.