When a horse is sold or leased after an eligibility certificate is issued for the current year, the seller or his authorized agent shall endorse the eligibility certificate to the new owner or lessee who may use it providing that he immediately sends the registration certificate for transfer or a copy of the lease to the United States Trotting Association. If the eligibility certificate is not endorsed to him, the new owner or lessee must apply to the United States Trotting Association for an eligibility certificate.
N.J. Admin. Code § 13:71-13.2