Indiana Administrative Code
Title 68 - INDIANA GAMING COMMISSION
Article 5 - TRANSFER OF OWNERSHIP
Rule 2 - Persons other than Publicly Traded Corporations
Section 2-3.2 - Institutional investors
Current through September 18, 2024
Authority: IC 4-33-4; IC 4-35-4
Affected: IC 4-33; IC 4-35
Sec. 3.2.
(a) An institutional investor who, individually or in association with others, acquires, directly or indirectly, beneficial ownership of five percent (5%) or more of the beneficial interest in a casino licensee, casino license applicant, or supplier licensee, where the licensee is not a publicly traded corporation, must notify the commission within thirty (30) business days after the institutional investor acquires the interest.
(b) An institutional investor who, individually or in association with others, acquires, directly or indirectly, beneficial ownership of fifteen percent (15%) or more of the interest in a riverboat licensee, riverboat license applicant, gambling game licensee, gambling game license applicant, or supplier licensee, where the licensee is not a publicly traded corporation, must apply to the commission for a finding of suitability within forty-five (45) days after acquiring the interest. A riverboat licensee, gambling game licensee, or supplier licensee must notify each person who is subject to this section of its requirements, provided that the obligations of the person subject to this rule are independent of, and unaffected by, the entity's failure to give notice.
(c) The following activities are consistent with being an institutional investor under this section:
(d) Subsections (a) and (b) do not apply to an underwriter during the first ninety (90) days of the underwriting.