New Mexico Administrative Code
Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING
Chapter 47 - HORSE RACING LICENSEES
Part 1 - GENERAL PROVISIONS
Section 16.47.1.11 - OWNER'S AUTHORIZED AGENTS
Universal Citation: 16 NM Admin Code 16.47.1.11
Current through Register Vol. 35, No. 18, September 24, 2024
A. Licenses required:
(1) A written authorized agent appointment,
acknowledged before a notary public must be approved by the board of
stewards.
(2) A written appointment
must be filed with the commission office for each owner represented and is not
transferable to any other partnership, stable name, or
owner-principal.
(3) A written
instrument signed by the owner shall clearly set forth the delegated powers of
the authorized agent. The owner's signature on the written instrument must be
acknowledged before a notary public.
(4) If the written instrument is a power of
attorney it shall be filed with the commission office and attached to the
regular application form.
(5) Any
changes must be made in writing, notarized and filed as provided in Paragraph
(3) of Subsection A of 16.47.1.11 NMAC above.
(6) All authorized agent appointments shall
expire December 31st each year or when terminated by the owner in writing,
acknowledged before a notary public, and filed with the commission office
whereupon the agency appointment shall not be valid.
(7) An authorized agent shall be licensed by
the commission as such and must be a minimum of 18 years old.
B. Powers and duties:
(1) An authorized agent may perform on behalf
of the licensed owner- principal all acts related to racing, as specified in
the agency appointment that could be performed by the owner- principal if such
principal were present.
(2) In
executing any document on behalf of the principal, the authorized agent must
clearly identify the authorized agent and the owner- principal.
(3) When an authorized agent enters a claim
for the account of an owner-principal, the name of the licensed owner for whom
the claim is being made and the name of the authorized agent shall appear on
the claim slip or card.
(4)
Authorized agents are responsible for disclosure of the true and entire
ownership of each horse for which they have authority. Any change in ownership
must be reported immediately to, and approved by, the stewards and recorded by
the racing secretary.
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