Section 68IAC5-1-7. Proscribed activities with respect to unsuitable persons

   (a) In refusing to grant approval for the transfer of an interest or other involvement with a casino licensee, a casino license applicant, or a supplier licensee, the commission may determine that a person is unsuitable for licensure under IC 4-33, IC 4-35, and 68 IAC 2-1.

  (b) After the commission serves a notice of denial to a casino licensee, a casino license applicant, or a supplier licensee, the casino licensee, casino license applicant, or supplier licensee may not do the following:

(1) Pay, to a person whose application was denied, a dividend or interest upon any voting securities, or a payment or distribution of any kind whatsoever except as permitted by subdivision (4).

(2) Recognize the exercise, by a person whose application was denied, directly or indirectly, or through any proxy, trust, or nominee, of a voting right conferred by securities or interest in securities.

(3) Pay, to a person whose application was denied, remuneration in any form for services rendered.

(4) Fail to pursue all lawful efforts to require the person whose application was denied to relinquish the voting securities, including, if necessary, the immediate purchase of the voting securities by the casino licensee or supplier licensee.

(Indiana Gaming Commission; 68 IAC 5-1-7; 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; filed Oct 21, 2016, 10:19 a.m.: 20161116-IR-068160052FRA)