Minnesota Administrative Rules
Agency 178 - Racing Commission
Chapter 7870 - HORSE RACING; LICENSURE
CLASS D LICENSE
Part 7870.0660 - DISCLOSURE OF FINANCIAL RESOURCES
Current through Register Vol. 48, No. 39, March 25, 2024
An applicant for a Class D license must disclose the following with regard to financial resources:
A. The past five annual reports of the secretary of the applicant to the commissioner of agriculture.
B. A financial statement reflecting the applicant's current assets, including investments, loans and advances receivable, and fixed assets and current liabilities, including loans and advances payable, long-term debt, and equity.
C. Equity and debt sources of funds to sponsor and manage horse racing:
D. Identification and description of sources of additional funds if needed due to cost overruns, nonreceipt of expected equity or debt funds, failure to achieve projected revenues, or other cause.
Statutory Authority: MS s 240.23