Current through Register Vol. 54, No. 45, November 9, 2024
Section 165.30 - ConcessionairesAny person, firm, association, group, or corporation which holds any concession, right, or privilege to perform any service or sell any article at any race track at which a corporation licensed by the Commission conducts race meets must submit to the Commission a copy of each report, advice or other document which that person, firm, association, group, or corporation furnishes or is required to furnish to the licensee in order to substantiate any commission rentals, service fees and similar financial or other arrangements between the parties. Any person, firm, association, group or corporation operating a concession, performing any service or selling any article at more than one licensed track must submit separate reports of his operation at each track.
(1)Financial statements. At the end of each meet such person, firm, association, group or corporation shall prepare and send to the Commission a record of its operations at the track in the form of a Profit and Loss Statement. Such report shall show the gross revenues derived from the meet, as well as all expenses paid or accrued during the same period. Income and expense items must be shown in detail in such reports; must be verified by at least two of the principal officers of the firm, association, or group, if an association, corporation or group, and by the one or more owners or proprietors thereof if not an association, corporation or group. Such report must be filed with the Commission within 30 days after the end of each individual meet. Within 75 days after the end of its calendar or fiscal year, all such persons, firm, association, corporation or group shall submit to the Commission, verified financial statements, including a Balance Sheet and a Statement of Profit and Loss, showing the combined operations for that year and the results of such operations for each specific thoroughbred horse race meet at which he, they or it, conducted business during the year.(2)Reports. Such person, firm, association, corporation, or group, if requested, must submit to the Commission the following:(i) Copies of weekly payrolls of all personnel employed at the track during its race meet, including address and title of each employe.(ii) Copies of all written contracts and agreements and a summary of all verbal contracts and agreements.(iii) List of stockholders annually or as the Commission may require.(iv) List of officers and directors and compensation paid to each annually, or as the Commission may require.(v) Upon the sale or transfer of any stock of any concessionaire at a licensed thoroughbred horse racing track, evidence of such sale or transfer must be transmitted to the Commission by affidavit verifying such transfer or sale containing such information as is required of stock transfers of licensed corporations.