Indiana § 4-31-5-6.5 Bonds

Indiana Statutes

§ 4-31-5-6.5 — Bonds

Indiana § 4-31-5-6.5

Art. 31PARI-MUTUEL WAGERING ON HORSE RACES

Ch. 5Permits to Conduct Recognized Meetings

This text of Indiana § 4-31-5-6.5 (Bonds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 4-31-5-6.5 (2026).

Text

5.

(a)At least sixty (60) days before the commencement of a horse racing meeting, a permit holder shall:

(1)post a bond in an amount not to exceed one million dollars ($1,000,000), as determined by the commission; or

(2)submit to the commission alternative proof of financial responsibility approved by the commission.

(b)A bond posted under subsection (a)(1):

(1)is subject to the approval of the commission; and

(2)must be payable to the commission as obligee for use in payment of the applicant's financial obligations to the commission or the state and other aggrieved parties, as determined by the rules of the commission.

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5. (a) At least sixty (60) days before the
commencement of a horse racing meeting, a permit holder shall:
(1) post a bond in an amount not to exceed one million dollars
($1,000,000), as determined by the commission; or
(2) submit to the commission alternative proof of financial
responsibility approved by the commission.
(b) A bond posted under subsection (a)(1):
(1) is subject to the approval of the commission; and
(2) must be payable to the commission as obligee for use in
payment of the applicant's financial obligations to the commission
or the state and other aggrieved parties, as determined by the rules
of the commission.