(a)

1. (1) The granting of emergency permission to participate is a revocable privilege, and is not to be a finding on the part of the Arkansas Racing Commission that the proposed transferee is qualified or suitable to hold a state casino license or to be registered or to be approved.
2. (2) Such permission will be without prejudice to any action that the commission may take with respect to any application for final approval of the proposed transfer of interest.

(c)

1. (1) Upon receipt of notice that emergency permission to participate has been withdrawn, the proposed transferee shall be immediately disassociated from any participation whatever in the operation of the licensed establishment, licensee, or holding company.
2. (2) Any money or other thing of value which may have been invested or made use of in the operation of the licensed establishment, licensee, or holding company shall be forthwith returned to the proposed transferee or deposited in escrow in compliance with this part.
3. (3) Any participation whatever on the part of a proposed transferee after notice of withdrawal of emergency permission to participate may be deemed to be in violation of law and this part and, as such, grounds for denial of the application of the proposed transferee and also grounds for revocation or suspension of the existing license, registration, or approval.