Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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58 Pa. Code § 163.491. Partnerships.

PARTNERSHIP, COLORS AND STABLE NAME REGISTRATION


§ 163.491. Partnerships.

 (a)  Partnerships shall be registered stating the names, addresses and Social Security Number and Federal Account Number of individuals having an interest in a horse, the relative interest and the terms of a sale with contingencies, lease or arrangement. The registration shall be signed by all parties or their authorized agents and be lodged at the Commission office before a horse which is a joint property, is sold with contingencies or leased can start in a race. Partners shall be jointly and severally liable for all stakes, arrears, forfeitures and other obligations. Registration fee is $10.

 (b)  Statements of partnership, sales with contingencies, leases or other arrangements, shall declare among other things:

   (1)  In whose name the horse is running.

   (2)  With whom the power of entry and declaration is resting.

   (3)  With whom the power of claiming for the partnership is resting.

   (4)  To whom winnings are payable (which shall be the name of the nominator).

 (c)  In cases of emergency, which shall be decided by the Board of Stewards, authority to sign declarations of partnership may be given to the Commission by telegram or telephone, and shall be confirmed in writing promptly.

 (d)  A part owner of a horse cannot assign his share, or a part of it, without the prior written consent of the other partners.

 (e)  A horse involved in a partnership may not be permitted to enter or start until this chapter has been complied with.

 (f)  Providing the identity of the horse is satisfactorily established, incorrect, insufficient or imperfect description in the entry of a horse, or failure to register a partnership may be corrected before the horse race in which he is entered, or in a handicap before the weights are published or announced. This section may not be construed to allow a horse to start in a race for which it is not otherwise completely eligible under this chapter.

 (g)  [Reserved].

 (h)  A license as an owner may not be granted to a corporation or to the lessee of a corporation until all stockholders or beneficial owners thereof shall be registered. Each stockholder or beneficial owner shall file an application for an owner’s license. The stockholders or members of a corporation and the corporation which owns or leases horses for racing purposes in this Commonwealth shall file with the Commission, when requested, a report containing the information that the Commission specifies. Upon refusal or failure to file the report the Commission may refuse a license to a lessee of the corporation or may revoke the license which it had granted.

Source

   The provisions of this §  163.491 amended July 16, 1976, effective July 17, 1976.



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