New York Consolidated Laws, Racing, Pari-Mutuel Wagering and Breeding Law - PML § 303-a. Non-managing ownership of standardbred horses

(a) For purposes of this section, a managing owner shall mean a person who through ownership, lease or designation manages all racing activities for a race horse and is personally responsible for all liabilities arising therefrom.

(b) Non-managing owners. There shall be no restriction on the number of non-managing owners of a race horse except that no horse shall be entered or started that is owned by thirty-five or fewer owners unless all such owners are licensed; in the event that a horse is owned by more than thirty-five owners, only those individuals having a three percent or greater property interest in such horse shall be required to be licensed as an owner.