Indiana Code
Chapter 22. Quotas on Issuance of Permits
7.1-3-22-10. City or Town Purchasing Permit Issued in Excess of Quota; Return and Retirement of Permit

Sec. 10. (a) This section applies to a permit subject to a quota under this article that:
(1) exceeds the permissible number of permits under the quota; and
(2) is eligible for renewal by law despite the permit exceeding the quota.
(b) A city or town may purchase a permit described in subsection (a) from the permit holder. The purchase price must be agreed to by:
(1) the permit holder; and
(2) the executive (as defined in IC 36-1-2-5) of the respective city or town, with the approval of the legislative body (as defined in IC 36-1-2-9) of the respective city or town.
(c) The executive of a city or town that purchases a permit under subsection (b) shall return the permit to the commission.
(d) The commission shall retire a permit received under subsection (c) and may not issue to another person a permit received under subsection (c).
As added by P.L.66-1998, SEC.1.

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