Ill. Admin. Code tit. 8 § 290.15

Current through Register Vol. 48, No. 44, November 1, 2024

Section 290.15 - Trust Funds; Nominating, Sustaining and Entry Fees

a) The sum of all payments made by an entrant to a race shall not exceed 2 percent of the total purse being awarded for the race.

b) Trust accounts shall be established by the Department as authorized by the Horse Racing Act of 1975 and Section 205-15 of the Civil Administrative Code [20 ILCS 205/205-15 ] to receive, hold and disburse monies derived from entrants payments.

c) Trust funds held by the Department shall be invested in interest bearing accounts and the interest accrued from those investments shall be used for the benefit of the entrants.

d) All nominating, sustaining and entry fee payments shall be paid as a part of the respective purse for the race.

Ill. Admin. Code tit. 8, § 290.15

Amended at 25 Ill. Reg. 7679, effective June 8, 2001