California Codes, Business and Professions Code - BPC, Division 8 — Special Business Regulations, Chapter 4 — Horse Racing, Article 9.5 — License Fees, Commissions, and Purses, Section 19613.5
Notwithstanding any other provision of this chapter, of the amount deducted for license fees, commissions, and purses from parimutuel pools at a racing meeting an amount may be retained and distributed for payment of any actual losses sustained at the meeting on parimutuel minus pools prior to the distribution of license fees, commissions, and purses. The proportion of license fees, commissions, and purses distributed for payment of such parimutuel minus pools shall be in the same proportion as they would be distributed in the provision under which they were deducted.
Notes
Allows amounts otherwise deducted for license fees, commissions, and purses at a racing meeting to be retained and distributed first to cover actual losses from parimutuel minus pools. Requires the portions taken from license fees, commissions, and purses for those losses to follow the same proportions in which those amounts otherwise would have been distributed.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19613.5 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-9-5/section-19613-5