Indiana Code 4-35-12-8. Duty of racetrack owner to sell a racetrack at which a trustee conducts gambling games
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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:
(2) is approved by the commission.
(1) satisfies the requirements of IC 4-31 for obtaining a permit and this article for obtaining a gambling game license; and
Terms Used In Indiana Code 4-35-12-8
- Trustee: A person or institution holding and administering property in trust.
(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.