(a) The Arkansas Racing Commission, at its discretion, may permit any service industry license applicant to carry out a commercial transaction with a franchise holder before said service industry entity has obtained the service industry license required as long as:

1. (1) The applicant has filed with the commission a completed application for a service industry license;
2. (2) At least thirty (30) days has passed since the filing of said completed application with the commission; and

3. (3) The franchise holder submits to the commission a petition for special authorization to carry out a commercial transaction in the absence of a service industry license which contains:

   1. (A) Sufficient reasons to convince the commission to grant the special authorization to the applicant; and
   2. (B) A description of the commercial transaction that it desires to carry out.