S.D. Admin. R. 20:04:33:25

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:04:33:25 - Application for multi-jurisdictional totalizator hub license

The application for a "multi-jurisdictional totalizator hub license" must be submitted on a form provided by the commission, and in addition must have the following information included in attachments:

(1) If the applicant is a corporation, the names, addresses, and dates of birth of its shareholders, directors, and officers and if a shareholder is a corporation the date of incorporation, the place of incorporation and the names, addresses, and dates of birth of its shareholders, directors, and officers must be provided;

(2) If the applicant is a partnership the names, addresses, and dates of birth of the partners and if a partner is a corporation the date of incorporation, the place of incorporation and the names, addresses, and dates of birth of its shareholders must be provided;

(3) If the applicant is a corporation ultimately owned by a not-for-profit entity without any shareholders, or is a publicly traded corporation, the information required in subdivisions (2) and (3) of this section shall be required from the directors of the membership organization, or the directors and officers of the publicly traded corporation, in lieu of the shareholders;

(4) The names of the racetracks the applicant, or its agent, has contracts with that allow the applicant to provide the simulcast signals and pari-mutuel wagering on the product;

(5) A statement of the beginning and ending dates of the applicants business year;

(6) A detailed budget showing anticipated revenue, expenditures, and cash flows by month, from the hub's operation during the license period;

(7) The number of days that the applicant is planning to operate the hub during the year in which the applicant is seeking to be licensed;

(8) Financial information from the applicant that demonstrates the applicant has the financial resources to install and operate a hub; and

(9) A detailed operating plan.

S.D. Admin. R. 20:04:33:25

32 SDR 32, effective 8/30/2005.

General Authority: SDCL 42-7-56(15)(16).

Law Implemented: SDCL 42-7-56(15)(16), 42-7-58.1, 42-7-58.7.