4-35-12-5. General Power of Attorney Law Applies
Sec. 5. (a) IC 30-5 applies to a trustee exercising powers under this chapter. (b) For purposes of IC 30-5, a trustee is an attorney in fact. As added by P.L.142-2009, SEC.28.
4-35-12-6. Trustee Requirements
Sec. 6. A trustee who conducts gambling games at a racetrack: (1) must: (A) be eligible to receive an occupational license under IC 4-35-6.5; and (B) satisfy the requirements of any rule adopted by the commission under IC 4-35-6.5-4; (2) must conduct the gambling games within the same standards for character, reputation, and financial integrity […]
4-35-12-7. Trustee’s Duties
Sec. 7. (a) A trustee acting under the authority of this chapter must fulfill the trustee’s duties as a fiduciary for the owner of the racetrack. In addition, the trustee shall consider the effect of the trustee’s actions upon: (1) the amount of taxes and fees remitted by the trustee under this article; (2) the […]
4-35-12-8. Duty of Racetrack Owner to Sell a Racetrack at Which a Trustee Conducts Gambling Games
Sec. 8. (a) A person who directly or indirectly owns a racetrack that is the subject of a resolution described in section 3 of this chapter has one hundred eighty (180) days after the date on which the commission adopts the resolution to sell the racetrack (and its related properties described in section 9 of […]
4-35-12-9. Operation of Related Properties
Sec. 9. A trustee acting under the authority of this chapter may conduct the operations of any hotel, restaurant, golf course, or other amenity related to the racetrack’s gambling game facility. As added by P.L.142-2009, SEC.28. Amended by P.L.255-2015, SEC.57.
4-35-12-10. Trustee Compensation
Sec. 10. A trustee is entitled to reasonable compensation for carrying out the duties imposed upon the trustee under this chapter. The trustee’s compensation must be: (1) approved by the commission; and (2) paid by the owner of the racetrack that is the subject of a resolution described in section 3 of this chapter. As […]
4-35-12-11. Liability Insurance
Sec. 11. A permit holder shall purchase liability insurance, in an amount determined by the commission, to protect the trustee appointed to conduct gambling games on behalf of the permit holder from liability for any act or omission by the trustee occurring within the scope of the trustee’s duties. The insurance coverage required by this […]
4-35-12-12. Power to Revoke, Modify, or Amend a Resolution Authorizing a Trustee to Conduct Gambling Games at a Racetrack
Sec. 12. (a) Except as provided in subsection (b), the commission may revoke, modify, or amend a resolution authorizing a trustee to conduct gambling games under this chapter upon a showing of good cause after a public meeting. A public meeting held under this subsection may be conducted by the commission or the executive director. […]
4-35-12-1. Application of Chapter
Sec. 1. This chapter applies only to a trustee acting under the authority of: (1) a resolution adopted by the commission authorizing the trustee to conduct gambling games under this chapter; and (2) either of the following: (A) A written power of attorney approved by the commission under IC 4-35-5-9. (B) An appointment by the […]
4-35-12-2. Exercise of Power Delegated by Power of Attorney Prohibited Unless Authorized by the Commission
Sec. 2. A person may not exercise any powers delegated under a power of attorney submitted under IC 4-35-5-9 unless the commission adopts a resolution under section 3 of this chapter. As added by P.L.142-2009, SEC.28.