Section 68IAC15-3-2. Distributions

   (a) A casino licensee or casino license applicant shall not make distributions to its partners, shareholders, itself, or an affiliated entity if the distribution will impair the financial viability of the casino gambling operation. Factors to be considered when determining impairment include, but are not limited to, the following:

(1) Cash flow, casino cash, and working capital requirements.

(2) Debt service obligations and covenants associated with financial instruments.

(3) Requirements for repairs and maintenance.

(4) Requirements for capital improvements.

(5) Requirements of the casino licensee's or casino license applicant's financial projections.

(6) Requirements to meet the obligations of the casino licensee or casino license applicant pursuant to a development agreement or the equivalent between the local community and the casino licensee or the casino license applicant or the conditions that were made a part of the certificate of suitability or the casino owner's license, or both.

  (b) Notwithstanding subsection (a), distributions to partners or shareholders that are used for the payment of federal or state taxes, or both, shall not violate this rule. (Indiana Gaming Commission; 68 IAC 15-3-2; filed Mar 9, 1998, 9:30 a.m.: 21 IR 2312; errata filed Apr 29, 1998, 10:00 a.m.: 21 IR 3366; 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)