§ 436a.6. Health and pension benefit plans.
(a) Contracts for health and pension benefit plans established for the benefit of members of a horsemens organization shall be submitted to the Board at least 30 days prior to the proposed effective date of the contract. Contracts are not effective until approved by the Board.
(b) Administrative and overhead costs incurred by the horsemens organization for the administration of health and pension benefit plans must be reasonable. Administrative costs that do not exceed 15% of the statutory allocation are considered reasonable.
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