California Business and Professions Code

§ 19550

BPC § 19550 Effective Jan 1, 2001Div. 8 · Ch. 4 · Art. 7

Statute text

(a)The board shall require each licensed racing association that conducts 14 or less weeks of racing to designate 3 racing days, and each licensed racing association that conducts more than 14 weeks of racing to designate five racing days during any one meeting, to be conducted as charity days by the licensee for the purpose of distribution of the net proceeds therefrom to beneficiaries through the distributing agent. For the purposes of this section, a split meeting shall be considered a single meeting and the appropriate number of charity days shall be based on the total weeks of racing allocated for both periods of the meeting.

(b)Notwithstanding subdivision (a) or any other provision of law, no racing association shall be required to pay to a distributing agent for the purpose of distribution to beneficiaries more than an amount equal to two-tenths of 1 percent of the association’s total on-track handle on live races conducted by the association at the meeting.

(c)This section does not apply to a fair, or to a licensed racing association conducting three weeks of racing or less.

Legislative history

Amended by Stats. 2000, Ch. 1082, Sec. 66. Effective January 1, 2001.