Sec. 6. (a) This section applies to a permit deposited with the commission that:

(1) has never been put into operation by the permit holder; and

contract signature

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Terms Used In Indiana Code 7.1-3-1.1-6

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) is subject to the quota provisions of IC 7.1-3-22.

     (b) The commission may not accept an application for transfer of ownership of the permit except upon a showing to the satisfaction of the commission of both of the following:

(1) Exceptional and unusual circumstances that necessitate a transfer of ownership of the permit, including bankruptcy or death of the permit holder.

(2) That the permit holder does not intend to speculatively sell the permit. Evidence of the permit holder’s intent may be shown by submitting to the commission documentation showing that the proposed sale price for the permit does not exceed the amount that the permit holder paid the commission or the previous permit holder for the permit.

As added by P.L.285-2019, SEC.15.

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