Corporations

(1) Corporations racing greyhounds in Massachusetts shall furnish the following information: (a) The corporationshallfurnish to the Commission and the Judges a statement giving the names of all persons connected with the corporation including officers, directors and stockholders. (b) The corporationshallfurnishto the Commissionand Judges a certificate stating no person or persons connected with the corporation (officer, director or stockholder) have any beneficial interest in any greyhound or greyhounds running in theirname or the name of any person or persons racing at the same track where the corporation-owned greyhound or greyhounds are running. (c) The corporation shall designate to the Commission and the Judges the name of one individual, preferably an officer, who shall act as agent for the corporation. (2) All persons listed in the corporation shall be liable for entry fees and penalties against greyhounds raced by the corporation. (3) In the event that one of the persons listed in the corporation is suspended all greyhounds owned by the corporation shall be suspended. (4) Each of the persons holding a beneficial interest in the corporation shall be in good standing in racing. (5) Each of the persons holding a beneficial interest in the corporation shall be licensed as owners. (6) No license as an owner shall be granted to a corporation or the lessees of any corporation unless such corporation shall have no more than ten stockholders or members each of whom shall be registered and beneficial owner of stock or membership in such corporation; nor shall any corporation having more than ten such stockholders have the power to lease for racing purposes to any natural person or persons or partnership any greyhound owned or controlled by it. Each stockholder must file an application for an owner's license. (7) All the stockholders or members of a corporation which leases greyhounds for racing purposes in the Commonwealth of Massachusetts and also all such corporations shall make and file with the Commission as and when requested by it, a report or reports containing such information as the Commission may specify; and upon refusal or failure to file such report or reports the Commission may refuse a license to any lessee or lessees of such corporation or may revoke any such license which it may have granted.