California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 4 — Horse RacingArticle 4 — Licenses for Track OperatorsSection 19482
No license to conduct a horse racing meeting shall be issued to any of the following:
(a) Any nonprofit corporation entitled to an exemption from any tax imposed by this State.
(b) Any applicant who proposes to conduct a horse racing meeting for the benefit of any such nonprofit corporation or under any arrangement pursuant to which such nonprofit corporation is to share in the receipts of the licensee from the conduct of such meeting, whether by rentals or otherwise.
Nothing in this section prohibits the board, in its discretion, from issuing a license to conduct a horse racing meeting to any corporation to which it has, prior to September 7, 1955, issued a license to conduct such a meeting.
Notes
Prohibits issuing a horse-racing-meeting license to a state-tax-exempt nonprofit corporation or to an applicant proposing a meeting benefiting such a nonprofit or sharing meeting receipts with it, including through rent. Exempts, at the board's discretion, a corporation that the board had licensed to conduct such a meeting before September 7, 1955.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19482 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-4/section-19482