California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 4 — Horse RacingArticle 4 — Licenses for Track OperatorsSection 19483
Unless the board finds that the purpose of this chapter will be better served thereby, no license to conduct a horseracing meeting at any track shall be issued to any person or held by any person having any financial interest in the conduct of any horseracing meeting by any other person at any other track in this State.
Ownership of stock in one corporation by another corporation constitutes a financial interest within the meaning of this section.
Notes
Prohibits issuing or holding a horse-racing-meeting license when the person has a financial interest in another person's horse-racing meeting at another California track, unless the board finds the chapter's purpose would be better served by allowing it. Defines one corporation's ownership of stock in another corporation as a financial interest for this restriction.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19483 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-4/section-19483