23 CAR § 355-313. Commercial transaction in the absence of a service industry license

(a) The Arkansas Racing Commission, at its discretion, may permit any service industry license applicant to carry out a commercial transaction with a franchise holder before said service industry entity has obtained the service industry license required as long as: (1) The applicant has filed with the commission a completed application for a service industry license; (2) At least thirty (30) days has passed since the filing of said completed application with the commission; and (3) The franchise holder submits to the commission a petition for special authorization to carry out a commercial transaction in the absence of a service industry license which contains: (A) Sufficient reasons to convince the commission to grant the special authorization to the applicant; and (B) A description of the commercial transaction that it desires to carry out. (b) The commission shall evaluate said petition for special authorization to carry out a commercial transaction in the absence of a service industry license and shall notify franchise holder of its decision in writing within a reasonable period.