The Arkansas Racing Commission may exercise, without limitation, any of the following powers:

1. (1) After the granting of delayed licensing to a limited partner, the commission may activate the licensing process for any limited partner granted delayed licensing if it determines that:

   1. (i) A limited partner has thereafter developed a material relationship with or to a general partner;
   2. (ii) A limited partner, individually or in conjunction with other limited partners, has acquired the ability to exercise significant control or influence over the management of the limited partnership’s gaming operations or business affairs;
   3. (iii) A limited partner, individually or in conjunction with other limited partners, has exercised, for any reason, significant control or influence over the management of the limited partnership’s gaming operations, either directly or indirectly, even if such control is contemplated or authorized by the partnership agreement;
   4. (iv) There is reason to believe that a limited partner cannot demonstrate his or her suitability;
   5. (v) The aggregate effective ownership percentage held by a limited partnership granted delayed licensing has increased to more than ten percent (10%); or
   6. (vi) Any other cause it deems reasonable;
2. (2) The commission, after considering the recommendation of its director or staff, may activate the licensing process for any limited partner granted delayed licensing at any time;
3. (3) The commission may delegate to its director or staff the authority to activate, without commission approval, the licensing process for any particular limited partner granted delayed licensing;

4. (4)

   1. (A) The commission may issue an order requiring escrow of the funds, profits, or other monies due any limited partner granted delayed licensing from the licensed limited partnership for any cause deemed reasonable.

      1. (B) Any such escrow ordered by the commission automatically terminates at the conclusion of the next regular commission meeting unless:
   2. (i) The commission recommends that the commission activate the licensing process for the limited partner that is the subject of the order;
   3. (ii) The commission continues discussion of whether it should recommend that the licensing process be activated to a future meeting at the request of the limited partner that is the subject of the order; or
   4. (iii) The commission activates the licensing process pursuant to a delegation of authority from the commission under this part; and
5. (5) Any escrow ordered by the commission pursuant to subdivision (4) of this section automatically terminates if the commission decides not to activate the licensing process for the limited partner that is the subject of the order or if the commission licenses the limited partner.