S.D. Admin. R. 20:04:29:12
An association applying for a license from the commission shall give the names of all directors, officers, and stockholders of the association, provide photographs of each officer and director, and give the percent of stock owned by each stockholder. In addition, an association applying for a license shall provide the commission with the names of the racing officials of the association 30 days before the race meeting. No official may act until his appointment has been approved by the association; however, in case of sickness or inability to act, the association may appoint a temporary official, subject to the approval of the commission.
The association shall furnish to the commission any other information needed to ascertain the integrity and financial resources of the association to conduct horse racing in the state of South Dakota. If the association's income is taxable by the federal government, the commission may also require the members of the board of directors of the association and any stockholder of the association owning or controlling more than 33 percent of the outstanding stock to furnish the commission with information needed to ascertain the integrity and the financial investment in horse racing in South Dakota of each director and stockholder. In addition, the commission, after receiving the application may request further information in writing or it may ask the officers, stockholders, and directors of an association to appear personally before the commission.
S.D. Admin. R. 20:04:29:12
General Authority: SDCL 42-7-56.
Law Implemented: SDCL 42-7-59.