§ 4-31-5-7 — Racing plant leased by applicant; filing of copy of current lease; disclosure of information

Indiana § 4-31-5-7

• Jurisdiction: Indiana
• Art. 31: PARI-MUTUEL WAGERING ON HORSE RACES
• Ch. 5: Permits to Conduct Recognized Meetings

Text

(a) If the racing plant is leased by the applicant,
the owner of the racing plant must file a copy of the current lease with
the application unless a copy is already on file with the commission.
(b) If the racing plant is leased by the applicant, the owner of the
racing plant must provide the following to the commission at the time
the application is filed:
(1) A current financial statement showing assets and liabilities.
(2) Its latest operating statement showing income and expenses
related to the racing plant.
(3) A list of the names, addresses, and occupations of all of its
officers, directors, owners, shareholders, or partners. However, in
the case of a corporation whose stock is publicly traded, this
information is required only for the corporation's officers and
directors and for those stockholders owning or controlling five
percent (5%) or more of the stock of the corporation.
(4) Any other information requested by the commission.
(c) If another business entity owns or controls five percent (5%) or
more of the stock of a corporation or five percent (5%) or more of the
capital or profits of a partnership that files the information required by
subsection (a) or (b), the other business entity is required to file the
same information.

Legislative History

As added by P.L.341-1989(ss), SEC.2. Amended by P.L.24-1992, SEC.13.