Indiana § 4-33-4-21 - Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions
Full text of Indiana Indiana Code § 4-33-4-21 — Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions, with citation guidance and answers to common questions.
§ 4-33-4-21. Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions
Sec. 21. (a) A licensed owner or any other person must apply for and receive the commission's approval before:
(1) an owner's license is:
(A) transferred;
(B) sold; or
(C) purchased; or
(2) a voting trust agreement or other similar agreement is established with respect to the owner's license.
(b) Subject to section 24 of this chapter, the commission shall adopt rules governing the procedure a licensed owner or other person must follow to take an action under subsection (a). The rules must specify that a person who obtains an ownership interest in a license must meet the criteria of this article and any rules adopted by the commission. A licensed owner may transfer an owner's license only in accordance with this article and rules adopted by the commission.
(c) A licensed owner or any other person may not:
(1) lease;
(2) hypothecate; or
(3) borrow or loan money against;
an owner's license.
(d) A transfer fee is imposed on a licensed owner who purchases or otherwise acquires a controlling interest, as determined under the rules of the commission, in a second owner's license. The fee is equal to two million dollars ($2,000,000). The commission shall collect and deposit a fee imposed under this subsection in the state general fund.
As added by P.L.20-1995, SEC.7. Amended by P.L.224-2003, SEC.42; P.L.182-2009(ss), SEC.59.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 4-33-4-21
What does Indiana Code § 4-33-4-21 cover?
Section 4-33-4-21 ("Licenses; transfer, sale, purchase, or voting trust; rules of procedure; prohibitions") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 4-33-4-21?
A common citation format is "Indiana Code § 4-33-4-21" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 4-33-4-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.