Disclosure of Management

PURPOSE: The purpose of this rule is to set forth the requirements for disclosure of management for a Class B license. (1) An applicant for a Class B license must disclose all of the information required in 12 CSR 50-11.120 for Class A licenses. (2) In addition to the information required in section (1) of this rule the applicant for a Class B license shall provide all of the following information: (A) A description of the applicant’s plans for the conduct of horse racing, including types of racing, number of days, weeks, specific dates, number of races per day, time of day and special events; if more than one (1) breed, disclose the projected ratio between breeds. (B) A description of the applicant’s plan for purses, including total purses, formula, minimum, stakes races and purse handling procedures; (C) A description of the applicant’s plan for pari-mutuel betting, including number of line divisions, windows, selling machines and clerks, use or duties of each and accounting procedures, including its proposed system of internal audit and supervisory controls; and (D) Each of the pari-mutuel pools for which the applicant seeks the commission’s approval. AUTHORITY: sections 313.540 and 313.580.1, RSMo 1986.* This rule originally filed as 12 CSR 50-12.070. Original rule filed July 18, 1986, effective Oct. 27, 1986. Amended: Filed June 6, 1989, effective Aug. 24, 1989. Moved to 11 CSR 45-52.070, effective Aug. 28, 1995. *Original authority: 313.540, RSMo 1986, and 313.580.1, RSMo 1986.