Leases

1. No licensee may lease a horse for the purpose of racing at tracks in this state without prior approval of the stewards. 2. Both lessor and lessee entering into such a lease must be licensed by the commission prior to engaging in any activity related to horse racing. 3. Each licensee who leases a horse at any meeting shall submit a copy of that lease to the stewards. The lease must contain at least all of the conditions of the lease arrangement and the names of all parties and horses related to the lease. The failure to submit accurate and complete information under this rule is a violation of these rules. The stewards shall immediately forward a copy of the lease to the commission. 4. An eligibility certificate must be issued by the applicable horsemen's organization for each lessee before any horse under lease is permitted to race. 5. When any lessor of a horse is a corporation, syndicate, partnership, or other entity of multiple interests, it shall furnish to the commission, under oath, the identification of its stockholders, members, partners, or other interested persons and such other information as the commission may require.