Review of a Proposed Transfer of Interests

If a proposed transfer of interests is subject to M.G.L. c. 128A §11(C), the proposed transferee shall, as a condition of the transfer, unless otherwise allowed by the Commission in accordance with 205 CMR 17.01(2), provide the Commission with a written agreement to assume all obligations of the Racing Meeting License including, but not limited to, commitments made in the Application for Racing License Transfer, all terms and conditions contained in the Racing Meeting License, Operation Certificate, and all permits, licenses, and other approvals issued by any federal, state, and local governmental agencies. Additionally, the written agreement shall include an attestation from the transferor and transferee, accompanied by relevant supporting documentation, that said transfer comports with all applicable terms and conditions of the aforementioned instruments. (2) Prior to submitting the written agreement referenced in 205 CMR 17.04(1), a proposed transferee may petition the Commission to allow for the modification of any terms, conditions, or agreements applicable to the Racing Meeting License held by the transferor, provided that the modifications are not inconsistent with any applicable provisions of M.G.L. c. 128A, M.G.L. c. 128C, 205 CMR, and St. 2025, c. 73 §§ 58 through 67, 69 through 70, 73, 74 and 180. (3) Notwithstanding 205 CMR 17.04(1): (a) The Commission may in its discretion require submission of any additional application material as described in 205 CMR 15.02: Racing Meeting License Application, and 15.04: Suitability of New and Existing Licensees, and Qualifiers to assist in its determination as to whether to allow a modification in accordance with 205 CMR 17.04(2) and/or approve a transfer of interests in accordance with 205 CMR 17.02. (b) A proposed transferee shall have the same duty to cooperate with such requests for information as does an Applicant under 205 CMR 15.08: Additional Information and Cooperation of Racing Meeting Applicants and Licensees.