Section 65IAC3-3-5.7. Change of ownership or entity structure

  7. (a) A retailer may not sell, assign, or transfer a certificate of authority. A certificate of authority is only valid as to the person to whom the certificate of authority was issued by the commission.

  (b) If a retailer's form of business association changes, the retailer must obtain a temporary or amended certificate of authority that reflects the change prior to selling any lottery products under the new business organization.

  (c) If a controlling ownership interest in a retailer is acquired or transferred, whether in one (1) transaction or a series of transactions, the successor to the controlling interest must obtain a new certificate of authority, prior to completing the transaction or series of transactions, for each selling location acquired in accordance with the provisions of this article.

  (d) The director may adopt, from time to time, any appropriate and necessary procedures to verify the ownership of a retailer and/or any retailer selling location to ensure that lottery products are in fact sold only by retailers under an approved certificate of authority and retailer contract and in accordance with IC 4-30 and this title.

  (e) The director may issue a temporary certificate of authority to a retailer or applicant while an application for a new or amended certificate of authority is pending as a result of:

(1) a change of a controlling ownership interest in an existing retailer; or

(2) a change in the form of business association of an existing retailer;

prior to the issuance of the new or amended certificate of authority. (State Lottery Commission; 65 IAC 3-3-5.7; emergency rule filed Dec 18, 2009, 10:05 a.m.: 20091230-IR-065090989ERA; emergency rule filed May 24, 2013, 11:15 a.m.: 20130529-IR-065130223ERA)