Section 4-33-4-21 - Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions(a) A licensed owner or any other person must apply for and receive the commission's approval before:(1) an owner's license is: (2) a voting trust agreement or other similar agreement is established with respect to the owner's license.(b) Subject to section 24 of this chapter, the commission shall adopt rules governing the procedure a licensed owner or other person must follow to take an action under subsection (a). The rules must specify that a person who obtains an ownership interest in a license must meet the criteria of this article and any rules adopted by the commission. A licensed owner may transfer an owner's license only in accordance with this article and rules adopted by the commission.(c) A licensed owner or any other person may not:(3) borrow or loan money against; an owner's license.
(d) A transfer fee is imposed on a licensed owner who purchases or otherwise acquires a controlling interest, as determined under the rules of the commission, in a second owner's license. The fee is equal to two million dollars ($2,000,000). The commission shall collect and deposit a fee imposed under this subsection in the state general fund.As added by P.L. 20-1995, SEC.7. Amended by P.L. 224-2003, SEC.42; P.L. 182-2009 (ss), SEC.59.