Indiana Administrative Code
Title 71 - INDIANA HORSE RACING COMMISSION
Article 12 - SATELLITE FACILITY AND SIMULCASTING
Rule 1 - License Application Requirements and Criteria
Section 1-15 - Contracts with a license holder; approval by commission or executive director
Current through March 20, 2024
Authority: IC 4-31-3-9
Affected: IC 4-31-5.5; IC 4-31-6-1; IC 4-35
Sec. 15.
(a) The following contracts must be approved by the commission or the executive director:
(b) "Related party" means:
(c) Any contract required to be approved by the commission or the executive director shall be submitted for approval within seven (7) days of execution of the contract. The commission or the executive director may refuse to approve a contract in (a) [subsection (a)] if it is determined that the contract is not in the best interest of horse racing or pari-mutuel wagering.
(d) A contract or transaction entered into by a license holder that exceeds the total dollar amount of fifty thousand dollars ($50,000) shall be a written contract.
(e) The commission reserves the right to terminate any contract executed by a license holder that is not in compliance with IC 4-31, IC 4-35, or this title.