68 Ind. Admin. Code 1-4-3

Current through September 18, 2024

Section 68 IAC 1-4-3 - Prohibited contracts

Authority: IC 4-33-4; IC 4-35-4

Affected: IC 4-33; IC 4-35

Sec. 3.

(a) No casino licensee or casino license applicant may enter into or perform a contract or transaction in which the casino licensee or casino license applicant transfers or receives consideration that is not commercially reasonable or does not reflect the fair market value of the goods or services rendered or received as determined at the time that the contract is executed.

(b) A contract or transaction entered into by a casino licensee or a casino license applicant that exceeds the total dollar amount of fifty thousand dollars ($50,000) shall be a written contract.

(c) A contract or transaction entered into by a casino licensee or a casino license applicant shall comply with IC 4-33, IC 4-35, and this title.

68 IAC 1-4-3

Indiana Gaming Commission; 68 IAC 1-4-3; filed Dec 11, 1995, 4:30 p.m.: 19 IR 1016; readopted filed Oct 15, 2001, 4:34 p.m.: 25 IR 898; readopted filed Sep 14, 2007, 1:40 p.m.: 20071003-IR-068070354RFA; filed Dec 6, 2012, 2:32 p.m.: 20130102-IR-068110786FRA; readopted filed November 26, 2013, 3:58 p.m.: 20131225-IR-068130354RFA

Readopted filed 9/4/2019, 10:57 a.m.: 20191002-IR-068190384RFA