Section R19-2-108. Leases

A.      The lessee of a horse shall file a copy of the leasing arrange- ment with the Department. The leasing arrangement shall include:

1.        The name of the horse,

2.        The name and address of the owner-lessor,

3.        The name and address of the lessee,

4.        The stable name, if any, of each party,

5.        The terms of the lease.

B.       No corporation having more than 10 stockholders who are the registered or beneficial owners of stock or membership in the corporation shall lease any horse owned or controlled by it to any person or partnership for racing purposes.

C.      No owner’s license shall be granted to a lessee of any corpora- tion referred to in subsection (B) of these rules.

D.      A corporation which leases horses for racing purposes in this state, its stockholders, and its members shall file with the Department, upon request, a report containing such informa- tion as the Department may specify.

Historical Note

Adopted effective August 5, 1983 (Supp. 83-4).

Amended effective March 20, 1990 (Supp. 90-1). R19-2-

108 recodified from R4-27-108 (Supp. 95-1).