Timing of investigations and approvals
Arkansas Constitution, Amendment 100, sec. 4
- (a) The Arkansas Racing Commission is hereby delegated the power to accelerate or extend the time period in which the commission may grant approval of any act for which approval by the commission is required or permitted by this part.
(b)
- (1) The commission shall use its best efforts to take final action upon an application by a person making a tender offer within sixty (60) days of the date upon which the application is filed and any fees are paid consistent with the public policy of this state concerning gaming as provided in this part.
- (2) If the commission cannot take final action upon the application within sixty (60) days of filing of such application, the commission shall transmit to the applicant written notice of a time certain for completion of the investigation and the final action of the commission.
- (3) The notice required by this subsection shall be transmitted at least ten (10) days prior to the sixtieth day after the filing of the application.