Sec. 4.5. A license issued under this article is null and void if the licensee fails to:
(1) obtain or maintain a permit issued under IC 4-31-5 to conduct a pari-mutuel wagering horse racing meeting in Indiana; or
(2) satisfy the requirements of IC 4-31 concerning the amount of live horse racing that the licensee must conduct at the licensee's racetrack.
As added by P.L.233-2007, SEC.21.