Application for horse racing facility license.
Any person desiring to obtain a horse racing facility license through issuance thereof by a commission, or through transfer of an outstanding license, shall file with the appropriate commission an application for such license. Such application shall be filed at the time and place prescribed by such commission and shall be in such form and contain such information as may be prescribed by such commission, including the following:
Anything contained in this section to the contrary notwithstanding, an applicant shall not be required to disclose, in connection with an application for a horse racing facility license, any confidential financial information, or any information concerning the exact percentage of ownership interest in such applicant held by various persons, that it would be entitled, as a licensee of the commission, to keep confidential under the provisions of subdivision (10) of Section 11-65-10, and to the extent that any such information is furnished to the commission by such applicant, or otherwise comes into the possession of the commission, it shall be kept confidential and shall be protected from public disclosure to the same extent as confidential information concerning a licensee is required to be protected from public disclosure pursuant to said subdivision (10).
- (1) The name and address of such person; if a corporation, the state of its incorporation and the full name and address of each officer and director thereof; if a foreign corporation, whether it is qualified to do business in the state; and if a partnership or joint venture, the name and address of each general partner thereof;
- (2) The name, and every address for the period of five years immediately preceding the date of such application, of each stockholder or member of such corporation, or each general partner of such partnership or joint venture, and of each person who has contracted for a financial interest in the applicant or the horse racing facility to be licensed, whether such interest will be an ownership or a security interest, and the nature and value of such interest, and the name and address of each person who has agreed to lend money to the applicant; provided that if the applicant proposes to arrange further financing, subsequent to the award of a horse racing facility license, through a sale of stock, partnership interests, or other equity interests, the issuance of debt securities, the entering into of financing leases, or otherwise borrowing money, then, in such case, such commission may grant a horse racing facility license which sets forth conditions to be met in arranging such further financing or which reserves to such commission the right to approve any or all aspects of such further financing;
- (3) Such information as the commission deems appropriate regarding the character and responsibility of the applicant and the members, partners, stockholders, officers, and directors of the applicant;
- (4) With respect to any racing facility that is not at the time subject to a horse racing facility license, the location and description of the horse racing facility for which the applicant proposes to obtain a license; provided that the commission may require such information about such facility and the location thereof, including preliminary architectural plans, as it deems necessary and appropriate to determine whether such facility is suitable and complies with the standards established by the commission pursuant to this chapter, and whether the conduct of horse racing and pari-mutuel wagering thereon at such location would be in the best interests of the people of the state;
- (5) Such information relating to the financial responsibility of the applicant as the commission deems appropriate;
- (6) If the horse racing facility to be licensed, or any part thereof, is to be leased or the use thereof to be made available to any person other than the applicant under a contract or other legal arrangement, the terms of such lease, contract, or other legal arrangement; and
- (7) Any other information which the commission in its discretion deems appropriate.
Any application for the issuance or transfer of a horse racing facility license shall be verified by the oath or affirmation of an officer of the applicant and shall be accompanied by a nonrefundable fee of $15,000.00; provided, however, that the nonrefundable fee for submitting an application for the issuance or transfer of a horse racing facility license shall be reduced to $5,000.00 in those cases where the applicant is the holder of an operator's license to conduct horse racing and pari-mutuel wagering thereon at the racing facility or, simultaneously with the submission of such application, the applicant submits an application for the issuance or transfer of such an operator's license.
(Acts 1984, No. 84-131, p. 159, §15; Acts 1991, No. 91-187, p. 246, §13.)