California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 4 — Horse RacingArticle 4 — Licenses for Track OperatorsSection 19480
(a) The board may issue to any person who makes application therefor in writing, who has complied with this chapter, and who makes the deposit to secure payment of the license fee imposed by this article, a license to conduct a horse racing meeting in accordance with this chapter at the track specified in the application if the board determines that the issuance thereof will be in the public interest and will subserve the purposes of this chapter.
(b) For purposes of this section, “person” means any officer, director, or partner, or any individual who holds 5 percent or more of outstanding shares, of a racing association.
Notes
Allows the board to license a written applicant to conduct a horse racing meeting at the specified track if the applicant complies with the chapter, deposits security for the license fee, and the board finds licensing serves the public interest and chapter purposes. Defines 'person' to include racing-association officers, directors, partners, and individuals owning at least 5% of outstanding shares.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19480 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-4/section-19480