Section 11-312 – Fingerprints; Criminal History Record
(a) On request of the Commission, the following individuals shall give the Commission their fingerprints: (1) each individual licensee; (2) each individual member of an unincorporated association that is a licensee; (3) each officer or director of a corporation that is a licensee; (4) each employee of a licensee who actively participates in the racing action of the licensee; (5) each […]
Section 11-313 – Financial Disclosure by Licensees
(a) The Commission shall require a licensee, and each officer or stockholder of a licensee, to disclose to the Commission each financial interest that the person has in racing. (b) On or before the 90th day following the end of a licensee’s fiscal year, the licensee shall submit to the Commission in the form that the Commission […]
Section 11-314 – Beneficial Ownership
(a) The Commission shall require each licensee to keep records that show the beneficial ownership of the stock of the licensee, whether or not the beneficial ownership is registered or stated on the stock. (b) (1) The Commission shall require a licensee at least once each calendar year to get by written request an affidavit from each owner […]
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 11-316 – 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.