Section 68IAC5-1-6. Repurchase of interest in publicly traded corporation

   (a) Within thirty (30) calendar days of the earlier of either:

(1) failure of a casino licensee, a casino license applicant, or a supplier licensee to request a hearing under 68 IAC 7-1 after receiving a notice of denial; or

(2) the exhaustion of the hearing or appellate process;

the casino licensee, casino license applicant, or supplier licensee shall purchase all of the interests held by the applicant who was served with the notice of denial. The applicant who was served with the notice of denial shall sell all of its interest in the license to the casino licensee, the casino license applicant, or the supplier licensee within thirty (30) days.

  (b) The ownership interest being sold under this section shall be sold at the lesser of the:

(1) market price of the ownership interest; or

(2) price at which the applicant purchased the ownership interest.

(Indiana Gaming Commission; 68 IAC 5-1-6; filed Dec 11, 1995, 4:30 p.m.: 19 IR 1033; 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)