Placing a Permit in Escrow
SUMMARY OF 905 IAC 1-30
A permittee may deposit a permit with the Commission for a period of one (1) year if the permittee is unable to immediately operate the business to which the permit applies. The permittee shall submit a written request to the Indiana Alcohol and Tobacco Commission outlining the following criteria:
1. All requests must be in writing specifically outlining the reasons why the permittee is unable to immediately operate the business to which the permit applies.
2. The written request shall include a proposed timetable and plan for putting the permit into use.
3. A written progress report shall be submitted to the Commission by the permittee six months after the Commission began holding the permit in escrow.
4. All progress reports shall outline in detail all efforts to conform to the plans previously submitted and include any amendments to the timetable or plan.
5. All permit fees must be paid and renewals submitted on a timely basis, preserving the rights of the permit.
6. The Commission may extend the term of the escrowed permit for an additional one year period if the permittee is able to show in writing, to the satisfaction of the Commission, that the permittee is making a good faith effort to put the permit into operation.
7. The permittee may not speculate on the sale of a permit by placing it in escrow.