Iowa Admin. Code r. 491-6.19 - Leases (horse racing only)
Current through Register Vol. 44, No. 20, April 6, 2022
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491—6.19(99D) Leases (horse racing only).
6.19(1) No licensee shall lease a racing animal for the purpose of racing at facilities in this state without prior approval of the commission representatives.
6.19(2) Both lessor and lessee must be licensed as owners.
6.19(3) Each licensee who leases a racing animal must submit a copy of that lease to the commission representatives. The lease must contain the conditions of the lease arrangement and the names of all parties and racing animals related to the lease. Failure to submit accurate and complete information under this rule is a violation of these rules.
6.19(4) Both seller and purchaser, or their agents or representatives, of a racing animal that is sold after being registered for racing with a racing association shall immediately notify the commission representatives of the sale and transfer. The commission representatives may require a declaration of the facts of the sale and transfer under oath and penalty of perjury.
[ARC 7658B, IAB 3/25/09, effective 3/23/09]