Sec. 21. (a) A licensed owner or any other person must apply for and receive the commission's approval before:
(1) an owner's license is:
(A) transferred;
(B) sold; or
(C) purchased; or
(2) a voting trust agreement or other similar agreement is established with respect to the owner's license.
(b) Subject to section 24 of this chapter, the commission shall adopt rules governing the procedure a licensed owner 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 a license must meet the criteria of this article and any rules adopted by the commission. A licensed owner may transfer an owner's license only in accordance with this article and rules adopted by the commission.
(c) A licensed owner or any other person may not:
(1) lease;
(2) hypothecate; or
(3) borrow or loan money against;
an owner's license.
(d) A transfer fee is imposed on a licensed owner who purchases or otherwise acquires a controlling interest, as determined under the rules of the commission, in a second owner's license. The fee is equal to two million dollars ($2,000,000). The commission shall collect and deposit a fee imposed under this subsection in the state general fund.
As added by P.L.20-1995, SEC.7. Amended by P.L.224-2003, SEC.42; P.L.182-2009(ss), SEC.59.
Structure Indiana Code
Title 4. State Offices and Administration
Article 33. Riverboat Gambling
Chapter 4. Powers and Duties of Indiana Gaming Commission
4-33-4-1. Administration, Regulation, and Enforcement of Riverboat Gambling
4-33-4-3. Additional Duties of the Commission
4-33-4-3.5. Gaming Agents; Salaries and Expenses; Worker's Compensation Fee
4-33-4-3.7. Application of 2016 Amendments
4-33-4-4. Entering Premises of Licensee
4-33-4-7. Ejection or Exclusion From Facilities
4-33-4-8. Violations of Article; Fraudulent Acts
4-33-4-9. Cashless Wagering System
4-33-4-10. Cruises; Regulation of Routes and Stops
4-33-4-12. Alcoholic Beverages
4-33-4-13. Determination of Navigable Waterways; Approval of Permanently Moored Craft
4-33-4-13.5. Marine Structural and Life Safety Standards for Permanently Moored Craft
4-33-4-14. Navigable Waterways; Extreme Circumstances
4-33-4-15. Annual Duties of Gaming Commission
4-33-4-16. Investigative Procedures; Complaints
4-33-4-17. Commission Consideration of License Applications
4-33-4-18. Background Investigations
4-33-4-19. Revocation of Licenses
4-33-4-21. Licenses; Transfer, Sale, Purchase, or Voting Trust; Rules of Procedure; Prohibitions
4-33-4-21.2. Display and Maintenance of Toll Free Telephone Number
4-33-4-23. Licensed Owners Annual Reports; Incentive Payments
4-33-4-24. Prohibition of Fee for Proposed Transfer of Ownership
4-33-4-24.2. Model Power of Attorney
4-33-4-25. Appointment of Temporary Trustee
4-33-4-26. Civil Penalties for Violations Concerning a Power of Attorney