N.Y. Racing, Pari-Mutuel Wagering and Breeding Law Section 302
Incorporation

Any number of persons, not less than five, may become a corporation for the purpose of conducting harness horse race meetings at which pari-mutuel betting will be conducted, with all the general powers of corporations created under the laws of this state, by making, signing, acknowledging and filing a certificate that shall contain the:

1.

name of the proposed corporation;

2.

objects for which the corporation is to be formed and the location at which it is proposed to conduct its business;

3.

amount and description of the capital stock;

4.

location of the corporation’s principal business office;

5.

duration of the corporation;

6.

number of the corporation’s directors, not less than five nor more than thirteen;

7.

names and post office addresses of the directors for the first year; and

8.

post office addresses of the subscribers and a statement of the number of shares of stock that each agrees to take in the corporation. No certificate of incorporation under this section shall hereafter be filed without the approval of the commission indorsed thereon or annexed thereto. No corporation organized pursuant to this article or operating a harness horse race meet pursuant to the provisions of § 304 (Right to hold harness race meetings and races)section three hundred four of this article, shall have or be given the right or power to conduct any harness horse race meet pursuant to this article except at the location designated in its certificate of incorporation as the place at which it was proposed to conduct its business, or at the place or places where it is presently licensed to conduct a harness horse race meet or meetings by the commission; provided, however, that this restriction shall not apply to any such corporation or association whose racing plant or the usefulness thereof or of any material part thereof, in the discretion of the commission, shall, for any reason beyond the control of such corporation or association, be totally destroyed or so substantially interfered with or damaged as to render same unfit for continued operation. Pending the rebuilding, or restoration of its usefulness or the making of the required repairs to said plant or the part thereof so destroyed or damaged, the commission may license such corporation or association to conduct its harness horse race meetings at any other suitable location.

Source: Section 302 — Incorporation, https://www.­nysenate.­gov/legislation/laws/PML/302 (updated Oct. 16, 2020; accessed Dec. 21, 2024).

301
General powers of commission 302
Incorporation 303
Filing of information concerning stock transfers 303‑A
Non-managing ownership of standardbred horses 304
Right to hold harness race meetings and races 305
Pari-mutuel betting at harness races 307
Licenses for harness race meetings 307‑A
New York-bred or wholly owned harness races 308
Officials at harness horse race meetings 309
Licenses for participants and employees at harness race meetings 310
Power of the commission to impose fines and penalties 311
Refunds 312
Special police officers 313
Place and manner of conducting pari-mutuel betting 314
Construction with other laws 315
Bond required of corporation or association conducting pari-mutuel betting 316
Books and records of pari-mutuel betting 317
Filing of certain agreements with the commission 318
Disposition of on-track pari-mutuel pools 319
Capital improvements 320
Revocation of license 321
Hearing of refusal or revocation of license 322
Approval of plans of corporation or association 324
Free or reduced fee passes, cards or badges 325
County, town and agricultural fairs and harness race meetings not licensed to conduct pari-mutuel betting 326
Employees at harness race meetings 327
Membership in a labor union or a labor organization 328
Disposition of unpaid money due on account of pari-mutuel tickets not presented 329
Penalties 330
Agriculture and New York state horse breeding development fund 331
Powers 332
Resources of fund 333
New York state exposition harness racing 334
New York-bred harness horse events 335
County and town agricultural society harness racing events 336
Actions against fund
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Accessed:
Dec. 21, 2024

Last modified:
Oct. 16, 2020

§ 302’s source at nysenate​.gov

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