N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 230: Membership in a national thoroughbred racing association

§ 230. Membership in a national thoroughbred racing association.

Notwithstanding any other provision of law to the contrary, if a

majority of the board of directors of a horsemen's organization

qualified pursuant to section two hundred twenty-eight of this article

shall annually approve, the qualified horsemen's organization may

request that the franchised corporation make payments, from funds earned

and retained for purses, to the National Thoroughbred Racing

Association, for the purposes of establishing and maintaining membership

for such organization. Upon receipt of a duly adopted corporate

resolution requesting payment to the National Thoroughbred Racing

Association from a qualified horsemen's organization, the franchised

corporation shall make payments from funds earned and retained for

purses on behalf of such qualified horsemen's organization, provided:

1. In no event shall the sum of the payments made pursuant to the

corporate resolution during any twelve month period exceed an amount

equal to one and one-quarter per centum of the total purses paid at all

tracks operated by the franchised corporation during the preceding

calendar year.

2. Payments shall be made by the franchised corporation in accordance

with a schedule provided in the corporate resolution by the board of the

qualified horsemen's organization. Such schedule shall (i) identify the

twelve month period commencing on April first during which a specific

sum is to be paid and (ii) delineate a timetable for making the

payments, which are to be equal in amount and made no less frequently

than every three months.

3. Upon receipt of a duly adopted corporate resolution from the

qualified horsemen's organization stating that a majority of its board

members has voted to rescind approval of such payments, the franchised

corporation shall make no further payments unless and until it receives

a duly adopted corporate resolution as described in this section.