Indiana § 7.1-3-24-3.5 Purchase of permit from permit holder; procedure

Indiana Statutes

§ 7.1-3-24-3.5 — Purchase of permit from permit holder; procedure

Indiana § 7.1-3-24-3.5

Art. 3PERMITS

Ch. 24Transfer of Permits; Deceased or Bankrupt Permittees

This text of Indiana § 7.1-3-24-3.5 (Purchase of permit from permit holder; procedure) 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 § 7.1-3-24-3.5 (2026).

Text

5.

(a)A person purchasing an existing permit from another permit holder must submit an executed purchase agreement to the commission as part of the applicant's request to transfer the ownership of the permit. The purchase agreement must include the following:

(1)The agreement must be signed by the applicant and the current permit holder.

(2)The agreement must provide detailed information regarding the purchase price and sale terms of the permit and other business assets, including the following:

(A)An itemization of all personal and real property being sold, detailing the sale terms and price for each item.

(B)If the personal property and real property are being purchased by different persons, the purchase agreement must identify the persons purchasing each item of personal property a

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5. (a) A person purchasing an existing permit
from another permit holder must submit an executed purchase
agreement to the commission as part of the applicant's request to
transfer the ownership of the permit. The purchase agreement must
include the following:
(1) The agreement must be signed by the applicant and the current
permit holder.
(2) The agreement must provide detailed information regarding
the purchase price and sale terms of the permit and other business
assets, including the following:
(A) An itemization of all personal and real property being sold,
detailing the sale terms and price for each item.
(B) If the personal property and real property are being
purchased by different persons, the purchase agreement must
identify the persons purchasing each item of personal property
and real property.
(C) Any other information required by the commission.
(b) A purchase agreement provided to the commission is
confidential under IC 5-14-3 and may not be disclosed to the public
except for the following information:
(1) The type of permit sold.
(2) The permit sale price.
(3) The jurisdiction (city, town, or county) in which the permit is
located.
(c) The commission shall maintain a publicly accessible data base
of the information listed in subsection (b).
(d) The commission shall review and consider an application for
transfer of the permit and a purchase agreement before approving or
denying the transfer application.