N.Y. Racing, Pari-Mutuel Wagering and Breeding Law Section 315
Bond required of corporation or association conducting pari-mutuel betting

Every corporation or association licensed by the commission to conduct harness horse race meetings at which pari-mutuel betting shall be permitted, annually and before the opening of any race meeting shall execute and file with the state comptroller a bond to this state in a penalty to be fixed by the department of taxation and finance not exceeding two hundred fifty thousand dollars, with sureties approved by the attorney general, that it will keep its books and records and make reports as required by sections two hundred twenty-two through seven hundred five of this chapter, that it will pay to the state all taxes imposed by this chapter, that it will distribute to the patrons of pari-mutuel pools conducted by it all sums due upon presentation of winning tickets held by them, and that it will otherwise comply with all of the provisions of sections two hundred twenty-two through seven hundred five of this chapter and with the rules and regulations prescribed by the commission and the department of taxation and finance.

Source: Section 315 — Bond required of corporation or association conducting pari-mutuel betting, https://www.­nysenate.­gov/legislation/laws/PML/315 (updated Oct. 16, 2020; accessed Nov. 1, 2025).

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
Green check means up to date. Up to date

Verified:
Nov. 1, 2025

Last modified:
Oct. 16, 2020

§ 315. Bond required of corporation or association conducting pari-mutuel betting's source at nysenate​.gov

Link Style