§ 4-33-6.5-12 — Operating agent contract, transfer, sale, purchase, or voting trust; rules of procedure; prohibitions

Indiana § 4-33-6.5-12

• Jurisdiction: Indiana
• Art. 33: RIVERBOAT GAMBLING
• Ch. 6.5: Riverboat Operating Agent Contract

Text

(a) An operating agent must apply for and
receive the commission's approval before:
(1) an operating agent's contract is:
(A) transferred;
(B) sold; or
(C) purchased; or
(2) a voting trust agreement or other similar agreement is
established with respect to the operating agent.
(b) The commission shall adopt rules governing the procedure an
operating agent or other person must follow to take an action under
subsection (a). The rules must specify that a person who obtains an
ownership interest in an operating agent contract must meet the criteria
of this article and any rules adopted by the commission. An operating
agent may transfer an interest in an operating agent contract only in
accordance with this article and rules adopted by the commission.
(c) An operating agent or any other person may not:
(1) lease;
(2) hypothecate; or
(3) borrow or loan money against;
an operating agent contract.

Legislative History

As added by P.L.92-2003, SEC.31.