The race track operators, officials, horsemen, owners, trainers, jockeys, agents, grooms, platers, valets and all licensees, who have accepted with reasonable advance notice thereof the conditions under which a race meeting is planned to be conducted, shall, before they terminate or discontinue their employment, engagements or activities under such conditions, notify the Board and the respective interested persons, or operators at least seven days before such termination or discontinuance. The Board shall, upon notice to the parties in interest, conduct a hearing or hearings with respect to the matters involved. If the Board shall find that the cause of the termination or discontinuance of employment, engagements or activities is unreasonable, unlawful or contrary to the Rules and Regulations of the Board, or detrimental to the public interest or against the best interest of horse racing, or that the proper notice herein provided has not been given, it shall so advise all parties in interest and shall take such action against any offending parties as the Board in its discretion deems suitable. If the Board finds that the causes are reasonable, lawful and not contrary to the Rules and Regulations of the Board, and are not detrimental to the public interest or to the best interests of racing, and that proper notice has been served, the Board shall so advise all parties in interest and shall use its best efforts to settle any disputes between said parties.
Ill. Admin. Code tit. 11, § 1424.350