Sec. 8. (a) A person who directly or indirectly owns a racetrack that is the subject of a resolution described in section 3 of this chapter has one hundred eighty (180) days after the date on which the commission adopts the resolution to sell the racetrack (and its related properties described in section 9 of this chapter) to another person that:
(1) satisfies the requirements of IC 4-31 for obtaining a permit and this article for obtaining a gambling game license; and
(2) is approved by the commission.
(b) If the person is unable to sell the racetrack (and its related properties described in section 9 of this chapter) in the time required by subsection (a), the trustee may take any action necessary to sell the properties to another person that:
(1) satisfies the requirements of IC 4-31 for obtaining a permit and this article for obtaining a gambling game license; and
(2) is approved by the commission.
As added by P.L.142-2009, SEC.28.
Structure Indiana Code
Title 4. State Offices and Administration
Article 35. Gambling Games at Racetracks
Chapter 12. Gambling Games Temporarily Conducted by a Trustee
4-35-12-1. Application of Chapter
4-35-12-3. Resolution Authorizing a Trustee to Conduct Gambling Games at a Racetrack
4-35-12-4. Effective Date of Power of Attorney
4-35-12-5. General Power of Attorney Law Applies
4-35-12-6. Trustee Requirements
4-35-12-8. Duty of Racetrack Owner to Sell a Racetrack at Which a Trustee Conducts Gambling Games
4-35-12-9. Operation of Related Properties
4-35-12-10. Trustee Compensation