Kan. Admin. Regs. § 112-4-19

Current through Register Vol. 43, No. 49, December 5, 2024

Section 112-4-19 - Horse or greyhound ownership by corporation, partnership, syndicate or other association or entity

(a) If the legal owner of any horse or greyhound is a corporation, partnership, syndicate or other association or entity, each shareholder or partner shall be licensed as a horse or greyhound owner unless the stewards, racing judges or the commission determine upon a showing of just cause that the best interests of racing dictate that not all shareholders or partners should be licensed.

(b) Each corporation, partnership, syndicate, or other association or entity that owns a horse or greyhound at a racetrack facility shall file the following information with the commission:

(1) Organizational documents for the entity identifying each shareholder by name and mailing address including zip code;

(2) relative proportion of ownership interest;

(3) terms of sale with contingencies, arrangements or leases;

(4) documents declaring to whom winnings are payable and under what name the horse or greyhound shall be run; and

(5) the name and address including zip code of each licensed person or persons who assumes all responsibilities as owner of the horse or grey-hound.

(c) No part owner of any horse or greyhound shall assign an ownership interest without the written consent of the other partners. The assignor shall file each written consent with the commission.

(d) Each corporation, partnership, syndicate or other association or entity that owns a horse or greyhound shall register annually the information required by the regulations and pay the required fee or fees for the appropriate entity.

Kan. Admin. Regs. § 112-4-19

Authorized by K.S.A. 1991 Supp. 74-8804, as amended by L. 1992, Ch. 27, Sec. 3, and L. 1992, Ch. 286, Sec. 2; implementing K.S.A. 1991 Supp. 74-8816, as amended by L. 1992, Ch. 286, Sec. 8; effective, T-112-1-19-89, Jan. 19, 1989; effective April 10, 1989; amended, T-112-8-22-89, Aug. 22, 1989; amended Oct. 2, 1989; amended, T-112-8-13-92, Aug. 13, 1992; amended, T-112-12-10-92, Dec. 10, 1992; amended Feb. 15, 1993.