Okla. Admin. Code § 325:10-1-11

Current through Vol. 42, No. 4, November 1, 2024

Section 325:10-1-11 - Horsemen's Bookkeeper

The organization shall employ a Horsemen's Bookkeeper who shall maintain the records and accounts and perform the duties described in this Section and maintain such other records and accounts and perform such other duties as the organization and Commission may prescribe.

(1) The records shall include the name, mailing address, social security number or federal tax identification number, and the state or country of residence of each horse owner, trainer, or jockey participating at the race meeting who has funds due or on deposit in the horseman's account.

(2) The records shall include a file of all required statements of partnerships, syndicates, corporations, assignments of interest, lease agreements, and registrations of authorized agents.

(3) All records of the Horsemen's Bookkeeper shall be kept separate and apart from the records of the organization.

(4) All monies and funds on account with the Horsemen's Bookkeeper shall be maintained:

(A) Separate and apart from monies and funds of the organization;

(B) In a trust account(s) designated as "Horsemen's Trust Account,"; and

(C) In an account(s) fully insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, to mean - in one account insured to the maximum amount insured by the FDIC.

(5) It shall be the duty of the Horsemen's Bookkeeper to receive, maintain, and disburse the purses of each race and all stakes, entrance money, jockey fees, purchase money in claiming races, along with all applicable taxes and other monies that properly come into his/her possession in accordance with the provisions of Commission Rules.

(6) The Horsemen's Bookkeeper may accept monies due belonging to other organizations or recognized meetings, provided prompt return is made to the organization to which the money is due.

(7) It shall be the duty of the Horsemen's Bookkeeper to disburse the purse of each race and all stakes, entrance money, jockey fees, purchase money in claiming races, along with all applicable taxes, upon request, within forty-eight (48) hours of receipt of notification that all tests with respect to such races have cleared the drug testing laboratory(ies) as reported by the Stewards, and provided further that no protest or appeal has been filed with the Stewards or the Commission, except that minimum jockey mount fees may be disbursed prior to notification that the tests have cleared the testing laboratory(ies).

(8) Absent a prior request, it shall be the duty of the Horsemen's Bookkeeper to disburse monies to the persons entitled to receive same within fifteen (15) days after the last race day of the race meeting, including purses for official races, provided that all tests with respect to such races have cleared the drug testing laboratory(ies) as reported by the Stewards, and provided further that no protest or appeal has been filed with the Stewards or the Commission.

(9) In the event a protest or appeal has been filed with the Stewards or the Commission, the Horsemen's Bookkeeper shall disburse the purse within forty-eight (48) hours of receipt of a dismissal or a final non-appealable order disposing of such protest or appeal.

(10) All records of the Horsemen's Bookkeeper including records of accounts and monies and funds kept on deposit are subject to inspection by the Commission at any time.

(11) The organization licensee is subject to disciplinary action by the Commission for any violations of or non-compliance with the provisions of this Section.

Okla. Admin. Code § 325:10-1-11

Amended at 16 Ok Reg 2859, eff 7-12-99 ; Amended at 30 Ok Reg 496, eff 5-15-13