{"data":{"id":"us-in/ic-4-33-4-21","jurisdiction":"us-in","citation":"IC 4-33-4-21","heading":"Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions","body":"Sec. 21. (a) A licensed owner or any other person must apply for and receive the commission's approval before:\n(1) an owner's license is:\n(A) transferred;\n(B) sold; or\n(C) purchased; or\n(2) a voting trust agreement or other similar agreement is established with respect to the owner's license.\n(b) Subject to section 24 of this chapter, the commission shall adopt rules governing the procedure a licensed owner or other person must follow to take an action under subsection (a). The rules must specify that a person who obtains an ownership interest in a license must meet the criteria of this article and any rules adopted by the commission. A licensed owner may transfer an owner's license only in accordance with this article and rules adopted by the commission.\n(c) A licensed owner or any other person may not:\n(1) lease;\n(2) hypothecate; or\n(3) borrow or loan money against;\nan owner's license.\n(d) A transfer fee is imposed on a licensed owner who purchases or otherwise acquires a controlling interest, as determined under the rules of the commission, in a second owner's license. The fee is equal to two million dollars ($2,000,000). The commission shall collect and deposit a fee imposed under this subsection in the state general fund.","path":["TITLE 4. STATE OFFICES AND ADMINISTRATION","ARTICLE 33. RIVERBOAT GAMBLING","Chapter 4. Powers and Duties of Indiana Gaming Commission"],"source_url":"https://iga.in.gov/ic/2026/Title_4.html#4-33-4-21","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"625e34c0b3aeaaf7f82e1cd5609c8b8a0f6626ac5d9ceb91f44ca9a34e538481","source_id":"us-in","stale":false,"prev":"us-in/ic-4-33-4-20","next":"us-in/ic-4-33-4-21.2"},"notice":"GroundRules: Original legal text. Not legal advice."}