Section 7.1-3-1.1-3 - Reversion of permit to commission(a) A permit reverts to the commission if:(1) a term of deposit under section 2(a) of this chapter expires without the commission approving an extension of the term; and(2) the permit is not active.(b) In addition to the notice provided under IC 7.1-3-1-3, at least ninety (90) days before the date that a term of deposit expires, the commission shall provide written notice to the permit holder of the date that: (1) the term of deposit expires; and(2) the permit will revert to the commission if:(A) the permit is not active; or(B) an extension of the term of deposit has not been approved by the commission.Added by P.L. 285-2019,SEC. 15, eff. 5/6/2019.