Sec. 3. The commission may adopt a resolution authorizing a trustee to temporarily conduct gambling operations on a riverboat if any of the following occurs with respect to that particular riverboat:

(1) The commission revokes the owner’s license or operating agent contract.

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Terms Used In Indiana Code 4-33-21-3

  • Contract: A legal written agreement that becomes binding when signed.
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Trustee: A person or institution holding and administering property in trust.
(2) The commission declines to renew the owner’s license or operating agent contract.

(3) A proposed transferee is denied an owner’s license under this article when attempting to purchase the riverboat and obtain an owner’s license, but the person who attempted to sell the riverboat is unable or unwilling to retain ownership or control of the riverboat.

(4) A proposed transferee is denied an operating agent contract under this article when attempting to purchase the riverboat subject to IC 4-33-6.5, but the person who attempted to sell the riverboat is unable or unwilling to retain ownership or control of the riverboat.

(5) A licensed owner or an operating agent agrees in writing to relinquish control of a riverboat to a trustee as approved by the commission.

As added by P.L.142-2009, SEC.16.

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