Sec. 25. (a) The commission may appoint a person to serve as a temporary trustee for a particular riverboat if the commission makes the following findings:

(1) That circumstances requiring a trustee to assume control of the riverboat are likely to occur.

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Terms Used In Indiana Code 4-33-4-25

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
(2) That the commission has not approved a power of attorney identifying any other person to serve as the trustee for the riverboat.

(3) That there is not enough time to consider and approve a power of attorney with respect to the riverboat before the circumstances found likely to occur under subdivision (1) will occur.

     (b) A person appointed under this section must be qualified to perform any duty described in this section or IC 4-33-21.

     (c) A trustee appointed by the commission under this section shall serve until any of the following occurs:

(1) The commission adopts a resolution under IC 4-33-21-3 authorizing a trustee appointed by an approved power of attorney to conduct gambling operations under IC 4-33-21 on the riverboat.

(2) The commission revokes the trustee’s authority to conduct gambling operations under IC 4-33-21-12.

(3) A new licensed owner or operating agent assumes control of the riverboat.

     (d) A trustee appointed by the commission under this section shall exercise the trustee’s powers in accordance with:

(1) the model power of attorney established by the executive director under section 24.2 of this chapter; and

(2) IC 4-33-21.

As added by P.L.142-2009, SEC.6.

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