Section 11-317 – Transfers
Before a license or racing days may be transferred to a buyer or a lessee of a track: (1) the Legislative Policy Committee shall have been notified at least 15 days before the transfer; (2) the Legislative Policy Committee, if it has chosen to do so, shall have provided comment to the Commission about the transfer; and […]
Section 11-318 – Approval Required for Agreements and Improvements
The Commission may require a licensee to get its approval before the licensee: (1) contracts to pay money; (2) sets a salary, fee, or compensation to be paid; or (3) builds, extends, or improves a track or structure on property that the licensee owns or leases.
Section 11-319 – Administration of Pension Funds
(a) The Maryland Backstretch Employees Pension Fund shall be administered by the organization that represents a majority of the owners and trainers who race thoroughbred horses in the State. (b) The Maryland Race Track Employees Pension Fund shall be administered by representatives of: (1) each mile thoroughbred racing licensee; (2) the Maryland State Fair and Agricultural Society, Inc.; and […]
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.