Illinois Administrative Code
Title 11 - ALCOHOL, HORSE RACING, LOTTERY, AND VIDEO GAMING
Part 1305 - PRIOR NOTIFICATION OF DIVIDENDS OR DISTRIBUTIONS
Section 1305.80 - Termination of License
Universal Citation: 11 IL Admin Code ยง 1305.80
Current through Register Vol. 48, No. 12, March 22, 2024
Racing dates and the license to conduct a horse race meeting are deemed personal in nature and non-transferable, and will terminate upon a substantial change of ownership of the race track operator, unless the Board has granted prior approval. The sale or transfer of 25 per cent or more of the equity of a race track operator shall be considered a substantial change of ownership.
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