La. Admin. Code tit. 46 § XLI-1109

Current through Register Vol. 50, No. 11, November 20, 2024

Section XLI-1109 - Partnership and Limited Liability Company Papers

A. Partnership papers shall, among other things, set forth the following:

1. the name and address of each and every person having any interest in the horse or horses involved;

2. the relative proportions of such interests;

3. to whom the winnings are payable;

4. in whose name the horse or horses shall run;

5. with whom the power of entry and declaration rests;

6. the terms of any contingency, lease or any other arrangement.

B. Limited Liability Company shall, among other things, provide for the following:

1. the name and address of each and every member of the limited liability company;

2. the relative proportions of such interests;

3. whether management is reserved to the members or a manager;

4. with whom the power of entry and declaration rests;

5. the terms of any contingency, lease or any other arrangement.

La. Admin. Code tit. 46, § XLI-1109

Adopted by the Racing Commission in 1971, promulgated by the Department of Commerce, Racing Commission, LR 2:429 (December 1976), amended LR 3:25 (January 1977), LR 4:275 (August 1978), LR 36:2864 (December 2010).

AUTHORITY NOTE: Promulgated in accordance with R.S. 4:148.