Sec. 14. (a) The commission may appoint a temporary trustee for a particular gambling game facility at a racetrack if the commission makes the following findings:

(1) That circumstances requiring a trustee to assume control of the gambling game facility are likely to occur.

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Terms Used In Indiana Code 4-35-4-14

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
(2) That the commission has not approved a power of attorney identifying any other person to serve as the trustee for the gambling game facility.

(3) That there is not enough time to consider and approve a power of attorney with respect to the gambling game facility before the circumstances found likely to occur under subdivision (1) will occur.

     (b) A person appointed under this section must be qualified to perform any duty described in this section or IC 4-35-12.

     (c) A trustee appointed by the commission under this section shall serve until any of the following occur:

(1) The commission adopts a resolution under IC 4-35-12-3 authorizing a trustee appointed in an approved power of attorney submitted by the permit holder to conduct gambling games under IC 4-35-12.

(2) The commission revokes the trustee’s authority to conduct gambling games as provided by IC 4-35-12-12.

(3) A new permit holder assumes control of the racetrack, gambling game facility, and related properties.

     (d) A trustee appointed by the commission under this section shall exercise the trustee’s powers in accordance with:

(1) the model power of attorney established by the executive director under section 13.2 of this chapter; and

(2) IC 4-35-12.

As added by P.L.142-2009, SEC.20. Amended by P.L.255-2015, SEC.26.

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