Iowa Admin. Code r. 491-6.19 - Leases (horse racing only)
(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.
(2) Both lessor and lessee must be licensed
as owners.
(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.
(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.
Notes
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