RELATES TO:
KRS
230.215,
230.310
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
230.215(2) and
230.260(3)
authorize the commission to promulgate administrative regulations prescribing
the conditions under which horse racing shall be conducted in Kentucky. This
administrative regulation establishes requirements for the licensing of racing
stables under the stable name and disclosure of ownership.
Section 1.
(1) Registration Required. A racing, farm,
corporate, or stable name may be used by an owner or lessee if registered with:
(a) The U.S. Trotting Association;
and
(b) The commission.
(2) A person shall provide his or
her name to the commission if he or she has:
(a) An interest in the stable; or
(b) Intends to utilize its name.
(3) A person listed in a
registered stable that is racing a horse shall have a license issued by the
Kentucky Horse Racing Commission in accordance with
810 KAR
3:020. An owner and any person listed in a registered
stable shall be liable for entry fees and penalties imposed upon the registered
stable.
Section 2.
Suspension. If one (1) of the owners or persons listed in a registered stable
is suspended, all of the horses in that stable shall be included in the
suspension.
Section 3. Corporate
and Limited Partnership Ownership.
(1)
(a) If a horse is owned by a corporation, the
corporation and any officer, director, or stockholder owning five (5) percent
or more of the stock shall be licensed by the United States Trotting
Association and the commission.
(b)
A stockholder owning less than five (5) percent of the stock shall be reported
monthly by the corporation to the commission, but shall not be required to be
licensed by the commission. The information to be reported shall include names
and amount of stock owned, address, Social Security number, and date of
birth.
(2)
(a) If a horse is owned by a limited
partnership, the general partner and all limited partners owning an interest of
five (5) percent or more shall be licensed by the United States Trotting
Association and the commission.
(b)
A limited partner owning less than a five (5) percent interest shall be
reported monthly to the commission, and the required information shall include
names and interests owned, address, Social Security number, and date of birth.
A limited partner owning less than a five (5) percent interest shall not be
required to be licensed by the commission.
