N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 210: Franchise termination

§ 210. Franchise termination. Upon receiving notification, in

accordance with the provisions of section two hundred ten-a of this

article, from any franchised corporation that it intends to relinquish

such franchise prior to the expiration date of such franchise, or that

such franchised corporation intends to end its corporate existence prior

to such expiration date, or upon the revocation of such franchise or

exclusive right to operate and maintain such franchise, the franchise

oversight board shall take such action as is necessary to assure the

continuation of the racing and pari-mutuel activities at the racing

facilities operated pursuant to the franchise agreement.