Ind. Admin. Code tit. 68, r. 5-2-1
Authority: IC 4-33-4; IC 4-35-4
Sec. 1. (a) This rule applies to the following:
(b) The following definitions apply throughout this rule:
(c) A person that is not a publicly traded corporation may transfer a direct or indirect ownership interest of five percent (5%) or greater in a casino licensee, a casino license applicant, or a supplier licensee only in accordance with this rule.
(d) The commission may require that an applicant for an ownership interest apply for a finding of suitability in accordance with this rule if the commission deems the finding of suitability necessary to ensure compliance with IC 4-33, IC 4-35, and this title.
(e) The organizational documents of casino licensees and casino license applicants that are persons other than publicly traded corporations must contain a provision that transfers of ownership interest in the person may only be made in accordance with this rule. A casino license applicant must comply with this subsection prior to the issuance of the interim compliance period.
(f) The organizational documents of supplier licensees that are persons other than publicly traded corporations must contain a provision that transfers of ownership interest may only be made in accordance with this rule. A supplier licensee must comply with this subsection within forty- five (45) days of receiving a permanent supplier's license under 68 IAC 2-2. A supplier licensee must file one (1) copy of the amended organizational documents within fifty (50) days of receiving a permanent supplier's license.
(Indiana Gaming Commission; 68 IAC 5-2-1; filed Dec 11, 1995, 4:30 p.m.: 19 IR 1034; errata filed Apr 9, 1996, 12:15 p.m.: 19 IR 2044; readopted filed Nov 25, 2002, 10:11 a.m.: 26 IR 1261; readopted filed Nov 14, 2008, 12:51 p.m.: 20081210-IR-068080730RFA; filed Dec 6, 2012, 2:32 p.m.: 20130102-IR-068110786FRA; readopted filed Sep 19, 2018, 4:09 p.m.: 20181017-IR-068180283RFA; readopted filed Oct 1, 2024, 9:32 a.m.: 20241030-IR-068230797RFA)