Section 71 IAC 5-2-2 - Licensing requirements for multiple ownersAuthority: IC 4-31-6-2
Affected: IC 4-31
Sec. 2.
(a) If the legal owner of any horse is:(4) any other association or entity; each shareholder or partner shall be licensed as required in section 1 of this rule.(b) Each partnership, corporation, syndicate, or other association or entity shall disclose to the commission all owners holding a five percent (5%) or greater beneficial interest, unless otherwise required by the commission.(c) Each partnership, corporation, syndicate, or other association or entity which includes an owner with less than a five percent (5%) ownership or beneficial interest shall file with the commission an affidavit which attests that, to the best of their knowledge, every owner, regardless of their ownership or beneficial interest, is not presently ineligible for licensing or suspended in any racing jurisdiction.(d) To obtain an owner's license, an owner with less than a five percent (5%) ownership or beneficial interest in a horse shall establish a bona fide need for the license and the issuance of such license shall be approved by the judges.(e) Application for joint ownership shall include a designation of a managing owner and a business address. Receipt of any correspondence, notice, or order at such address shall constitute official notice to all persons involved in the ownership of such horse. (f) The written appointment of a managing owner or authorized agent shall be filed with the commission.Indiana Horse Racing Commission; 71 IAC 5-2-2; emergency rule filed Feb 10, 1994, 9:20 a.m.: 17 IR 1144; readopted filed Oct 30, 2001, 11:50 a.m.: 25 IR 899; readopted filed Mar 23, 2007, 11:31 a.m.: 20070404-IR-071070030RFA; readopted filed November 26, 2013, 11:25 a.m.: 20131225-IR-071130345RFAReadopted filed 8/28/2019, 1:23 p.m.: 20190925-IR-071190319RFAReadopted filed 8/3/2023, 12:49 p.m.: 20230830-IR-071230428RFA