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Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-111-506. Racing meets--Application--Bond

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) Before any franchise holder conducts a racing meet in the county in which it holds a franchise, it shall file with the Arkansas Racing Commission an application to hold the meet and a bond in the sum of ten thousand dollars ($10,000) payable to the State of Arkansas, with a surety to be approved by the commission, conditioned that the franchise holder shall:

(A) Faithfully make the payments to the commission;

(B) Keep its books and records and make reports as provided in this chapter; and

(C) Conduct the greyhound racing in conformity with this chapter.

(2) The application shall specify the dates on which it is intended or desired to conduct or hold the meet and such further information as the commission may prescribe.

(3)(A) The license fee required to be paid by the franchise holder under the provisions of this section shall be computed at the rate of three hundred dollars ($300) per day, payable each day of the meet to the commission.

(B) The license fee imposed by this section shall be in lieu of all other license or occupation fees or taxes which otherwise would be due by the franchise holder to the State of Arkansas, or to any of its political subdivisions.

(b)(1) Each application shall be filed with the commission at least one hundred twenty (120) days prior to the date upon which it is desired to begin the racing meet.

(2) Whenever mutually agreeable to the commission and the franchise holder, the commission may allot racing dates other than those requested in the application.

(c) Immediately following the allotting of any racing dates and the issuance of a license to hold a racing meet, the commission shall notify the franchise holder of the dates allotted. The notice shall be in writing and sent by registered or certified United States mail to the franchise holder. Each notice and license shall be mailed by the commission at least ninety (90) days before the date fixed for the beginning of the racing meet.

(d)(1) Each license shall specify:

(A) The name of the franchise holder;

(B) The dates on which the racing meet shall be held or conducted; and

(C) The location of the place, track, or enclosure at which the racing meet is to be conducted.

(2) No license shall be transferable, nor shall it apply to any place, track, or enclosure other than the one specified in the license.

(e)(1) If the commission refuses an application for a license, it shall notify the franchise holder. This notice must be in writing and sent by registered or certified United States mail to the franchise holder and shall be mailed by the commission at least twenty (20) days before the date fixed in the application for the beginning of the racing meet. In each instance the notice shall contain the reasons for refusal of the application.

(2) No application shall be refused until after the franchise holder has been granted a hearing by the commission.

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Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-111-506. Racing meets--Application--Bond - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-111-506/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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