A licensed racing entity that conducts standardbred horse racing must place on deposit with the commission by March 1 of each year an irrevocable letter of credit equivalent to its average weekly purse total from the immediate prior year. The commission shall hold the letter of credit in trust for the standardbred horsemen racing at that licensed racing entity's horse race meeting if the purse checks are not issued or insufficient funds are available to cover the purse checks. SUBCHAPTER C ADDITIONAL LICENSING REQUIREMENTS FOR LICENSED RACING ENTITY, SECONDARY PARI-MUTUEL ORGANIZATION, TOTALISATOR AND RACING VENDORS Sec. 9351. General license requirements. 9352. Licensing costs and fees. 9353. License application procedures. 9354. Oral presentation by applicant. 9355. Additional information. 9356. Operations. 9357. Transfers of licenses. 9358. Duration of license. 9359. Penalties and enforcement.
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