(1) If an employee of a limited partnership licensee who is required to be licensed individually: Does not apply for a license within thirty (30) days after the executive director requests him to do so, and the commission makes a finding of unsuitability for that reason; or
(2) Is denied a license; or
(3) Has his license revoked by the commission, the limited partnership gaming licensee by whom he is employed shall terminate his employment upon notification by registered or certified mail to the limited partnership of that action.
(4) If the limited partnership licensee designates another employee to replace the employee whose employment was terminated, it shall promptly notify the commission or the executive director and cause the newly designated employee to apply for a gaming license.