Louisiana Revised Statutes Tit. 4, § 183. Contracts between licensees and permittees licensed to race horses at race meetings conducted in the state

B. (1) Monies due as purses to persons licensed to race horses at race meetings conducted in the state as a result of conditions outlined in Subsection A of this Section and the monies due to the Horsemen's Benevolent and Protective Association pursuant to the provisions of Subparagraph (A)(4)(b) of this Section shall be allocated and distributed during the race meeting at which earned, including any donations by the association for horse aftercare as defined in R.S. 3:2438.1.

(2) In the event the amount distributed as purses is more than the amount required by Subsection A of this Section, the overpayment shall be carried forward to the next race meeting conducted by the same association. It shall be carried on the association books as an asset unless and until the overpayment is remitted to the Horsemen's Benevolent and Protective Association pursuant to R.S. 4:183.2. If remitted to the Horsemen's Benevolent and Protective Association, the overpayment shall be carried on the Horsemen's Benevolent and Protective Association books as an asset.

(3) In the event the amount distributed as purses to persons licensed to race horses at thoroughbred race meetings conducted in the state is less than the amount required by this Section, and more than an amount equal to two times the average daily purse distribution at the thoroughbred race meeting at which generated, it shall be delivered to the Horsemen's Benevolent and Protective Association for further distribution to persons having earned monies during the meeting, in the direct proportion that the underpayment is to the monies earned by that person at that meeting. In the event the underpayment is less than an amount equal to two times the average daily purse distribution at that meeting, it shall be retained by the association or the Horsemen's Benevolent and Protective Association in an interest-bearing account to be used for purses at the next thoroughbred meeting conducted by that association. Interest earned on the account shall be added to the purse paid over and above the amount required to be paid as purses by this Section.

(4) In the event the amount distributed as purses to persons licensed to race horses at quarter horse race meetings conducted in the state is less than the amount required by this Section and more than an amount equal to two times the average daily purse distribution at the quarter horse race meeting at which generated, it shall be delivered to the Horsemen's Benevolent and Protective Association for further distribution to persons having earned monies during the meeting, in the direct proportion that the underpayment is to the monies earned by that person at that meeting. In the event the underpayment is less than an amount equal to two times the average daily purse distribution at that meeting, it shall be retained by the association or the Horsemen's Benevolent and Protective Association in an interest-bearing account to be used for purses at the next quarter horse meeting conducted by that association. Interest earned on the account shall be added to the purse paid over and above the amount required to be paid as purses by this Section.

(5) For the purposes of this Subsection, “average daily purse distribution” means all sources of funds available for use as a purse or purse supplement that are required by law to be distributed during a race meeting.