Section 11-213 – Annual Report
(a) On or before September 15 of each year, the Commission shall submit a report to the Secretary and, in accordance with § 2–1257 of the State Government Article, the Legislative Policy Committee about the preceding calendar year. (b) Each report shall include: (1) a statement of receipts and disbursements of the Commission; (2) a summary of major events […]
Section 11-315 – Disclosure Statements to Be Signed Under Oath
A statement required to be submitted to the Commission under § 11-313 or § 11-314 of this subtitle shall be under oath and signed by each officer of the corporate licensee or by the owner or each partner of an unincorporated licensee.
Section 11-214 – Authority of Secretary
The Commission exercises its powers and performs its duties subject to the authority of the Secretary.
Section 11-316 – Background Review of Prospective Buyers
(a) Before a prospective buyer buys a majority controlling interest in a licensee, the Commission shall review the personal and financial background of the prospective buyer. (b) (1) The Commission shall adopt regulations to carry out this section. (2) The regulations shall: (i) require a personal and financial background check of the prospective buyer; (ii) specify a period of time to […]
Section 11-301 – “Beneficial Ownership” Defined
In this subtitle, “beneficial ownership” includes: (1) record ownership; (2) stock or other ownership in an entity in a chain of parent and subsidiary or affiliated entities, any 1 of which participates in the capital or profits of a licensee, regardless of the percentage of ownership involved; (3) an interest that entitles a person to benefits substantially equivalent […]
Section 11-302 – License Required
A person must have an appropriate license whenever the person holds a race meeting in the State where pari-mutuel betting is allowed or a purse, reward, or stake is offered.
Section 11-303 – Applications for Licenses
(a) An applicant for a license shall submit to the executive director of the Commission an application: (1) in the form that the Commission requires; and (2) on or before a day that the Commission sets. (b) The application shall state: (1) the dates of the race meetings desired; (2) the maximum number of racing days desired; and (3) any other information […]
Section 11-304 – Issuance of License
(a) The Commission shall issue a license to each applicant who: (1) is awarded racing days in a race meeting; and (2) pays the appropriate license fee. (b) A license shall state: (1) the dates of the race meeting awarded; (2) the total number of racing days awarded; and (3) the kind of racing to be held.
Section 11-305 – Controls on Licensees
A licensee is subject to all rights, regulations, and conditions that the Commission sets for the calendar year in which a race meeting of the licensee is held.
Section 11-306 – No Right of Ownership in Racing Day
An award of a racing day to a licensee gives the licensee a license for the racing day, but it does not give the licensee an ownership right in the racing day.