N.M. Admin. Code § 16.47.1.11

Current through Register Vol. 35, No. 21, November 5, 2024

Section 16.47.1.11 - OWNER'S AUTHORIZED AGENTS

A.Licenses required:

(1) A written authorized agent appointment, acknowledged before a notary public must be approved by the board of stewards.

(2) A written appointment must be filed with the commission office for each owner represented and is not transferable to any other partnership, stable name, or owner-principal.

(3) A written instrument signed by the owner shall clearly set forth the delegated powers of the authorized agent. The owner's signature on the written instrument must be acknowledged before a notary public.

(4) If the written instrument is a power of attorney it shall be filed with the commission office and attached to the regular application form.

(5) Any changes must be made in writing, notarized and filed as provided in Paragraph (3) of Subsection A of 16.47.1.11 NMAC above.

(6) All authorized agent appointments shall expire December 31st each year or when terminated by the owner in writing, acknowledged before a notary public, and filed with the commission office whereupon the agency appointment shall not be valid.

(7) An authorized agent shall be licensed by the commission as such and must be a minimum of 18 years old.

B.Powers and duties:

(1) An authorized agent may perform on behalf of the licensed owner- principal all acts related to racing, as specified in the agency appointment that could be performed by the owner- principal if such principal were present.

(2) In executing any document on behalf of the principal, the authorized agent must clearly identify the authorized agent and the owner- principal.

(3) When an authorized agent enters a claim for the account of an owner-principal, the name of the licensed owner for whom the claim is being made and the name of the authorized agent shall appear on the claim slip or card.

(4) Authorized agents are responsible for disclosure of the true and entire ownership of each horse for which they have authority. Any change in ownership must be reported immediately to, and approved by, the stewards and recorded by the racing secretary.

N.M. Admin. Code § 16.47.1.11

16.47.1.11 NMAC - Rp, 16 NMAC 47.1.11, 3/15/2001; A, 3/30/2007; A, 8/14/2008, Amended by New Mexico Register, Volume XXXII, Issue 08, April 20, 2021, eff. 4/20/2021