Sec. 10. (a) A licensed SPMO may accept advance deposit wagers for races conducted within or outside Indiana. Advance deposit wagers made under this chapter are considered to have been made in Indiana.

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Terms Used In Indiana Code 4-31-7.5-10

  • Contract: A legal written agreement that becomes binding when signed.
  • licensed SPMO: means a secondary pari-mutuel organization licensed under this chapter. See Indiana Code 4-31-7.5-6
  • source market fee: refers to the amount of an advance deposit wager made on any race:

    Indiana Code 4-31-7.5-8

     (b) A licensed SPMO must have a single written contract signed by each permit holder. The contract must be approved by the commission. The contract must:

(1) specify the manner in which the amount of the source market fee is determined for each permit holder;

(2) govern all other aspects of the business relationship between the licensed SPMO and each permit holder; and

(3) contain a provision reserving all rights of horsemen’s associations under the federal Interstate Horse Racing Act (15 U.S.C. § 3001 et seq.).

As added by P.L.268-2017, SEC.12.

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