20070321-IR-068070187ERA Temporarily amends 68 IAC 1-1-57 and 68 IAC 1-1-86 concerning the definitions for the terms "key person" and "substantial owner". Effective March 13, 2007.

TITLE 68 INDIANA GAMING COMMISSION

Emergency Rule

LSA Document #07-187(E)

DIGEST

Temporarily amends 68 IAC 1-1-57 and 68 IAC 1-1-86 concerning the definitions for the terms "key person" and "substantial owner". Effective March 13, 2007.

SECTION 1. (a) This SECTION supersedes 68 IAC 1-1-57.

(b) "Key person" means any:

(1) officer;

(2) director;

(3) executive;

(4) employee;

(5) trustee;

(6) substantial owner;

(7) independent contractor; or

(8) agent of a business entity;

having the power to exercise management or operating authority over a business entity or affiliates thereof.

SECTION 2. (a) This SECTION supersedes 68 IAC 1-1-86.

(b) "Substantial owner" means any:

(1) person holding five percent (5%) or more ownership interest in a business entity; or

(2) institutional investor(s) holding fifteen percent (15%) or more ownership interest in a business entity.

LSA Document #07-187(E)

Filed with Publisher: March 13, 2007, 2:06 p.m.

Posted: 03/21/2007 by Legislative Services Agency

DIN: 20070321-IR-068070187ERA

Composed: Oct 31,2016 11:39:44PM EDT

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