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4-35-12-8. Duty of racetrack owner to sell a racetrack at which a trustee conducts gambling games

IN Code § 4-35-12-8 (2019) (N/A)
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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:

(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.

(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.

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