Indiana Code 4-31-7.5-10. Licensed SPMO acceptance of advance deposit wagers
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Sec. 10. (a) A licensed SPMO may accept advance deposit wagers for races conducted within or outside Indiana. Advance deposit wagers made under this chapter are considered to have been made in Indiana.
(1) specify the manner in which the amount of the source market fee is determined for each permit holder;
(b) A licensed SPMO must have a single written contract signed by each permit holder. The contract must be approved by the commission. The contract must:
Terms Used In Indiana Code 4-31-7.5-10
- Contract: A legal written agreement that becomes binding when signed.
- licensed SPMO: means a secondary pari-mutuel organization licensed under this chapter. See Indiana Code 4-31-7.5-6
- source market fee: refers to the amount of an advance deposit wager made on any race:
Indiana Code 4-31-7.5-8
(2) govern all other aspects of the business relationship between the licensed SPMO and each permit holder; and
(3) contain a provision reserving all rights of horsemen’s associations under the federal Interstate Horse Racing Act (15 U.S.C. § 3001 et seq.).
As added by P.L.268-2017, SEC.12.