Section 13.13. Animal ownership by business entities.

 

(1)   Partnerships. All partnerships and the name and address of every person having any interest in an animal and the relative proportions of such interests shall be filed with the racing secretary and stewards. All the partners and each of them shall be jointly and severally liable for all stakes and forfeits. All partners of a general or limited partnership shall be licensed as owners. These licensure requirements shall apply to all partnerships owning any interest in an animal. Failure to meet these requirements shall render the animal ineligible for entry.

(2)   Corporations.

(a) All corporations having an interest in an animal shall file with the racing secretary and stewards at the time of filing an application for an owner's license, a statement setting forth the names and addresses of all officers, directors and stockholders of said corporation, together with the amount of the respective holdings of each stockholder. The statement shall be signed by the president of the corporation, attested to by its secretary, and the corporate seal, if any, attached. All officers, directors and owners, directly or indirectly, of any equity or other ownership interest, or beneficial owners of 5% or more of the publicly held securities of a publicly traded corporation, shall be licensed as owners. These licensure requirements shall apply to all corporations owning any interest in an animal. Failure to meet these requirements shall render the animal ineligible for entry.

(b) The applications under this section shall be accompanied by an affidavit which states that the applicant, any partner, officer, director or beneficial owner of 5% or more of any class of stock of a corporation, and any person with a present or future, direct or indirect financial or management interest in the application, to the best of the applicant's knowledge, meets the qualifications of s. Game 13.09 .

(c) Any changes in the partners, officers, directors, or owners of 5% or more of any class of stock, or persons with a present or future, direct or indirect financial or management interest in a person licensed pursuant to this section shall promptly be filed with the stewards. All parties requiring licensure because of such change shall obtain a license. Failure to obtain a license shall render the animal ineligible for entry.

(3)   Kennel names.

(a) A licensed owner wishing to race under a kennel name shall register the name for the racing season with the division and pay the prescribed fee.

(b) A trainer who is also a licensed owner or part owner may use a kennel name as owner or part owner. However, no trainer shall be licensed as a trainer other than in his or her legal name.

(c) In applying to race under a kennel name the applicant shall disclose all ownership interests behind the kennel name.

(d) Changes in any ownership interests involved in a kennel name shall be reported immediately to, and approval obtained from, the stewards.

(e) A licensed owner shall not be a party to more than one kennel name at the same time, nor shall the owner use a real name for racing purposes so long as the owner has a registered kennel name.

(f) A licensed owner who has registered under a kennel name may at any time abandon it after having given written notice to the division.

(g) A kennel name may be changed at any time by registering a new kennel name and by paying the prescribed fee.

(h) A licensed owner shall not register a kennel name which is already registered by any other owner.

(i) A licensed owner shall not register as a kennel name one which the division determines to be misleading to the public or unbecoming to the sport. No kennel name shall be registered with the division if it is being used for advertising purposes.

(j) A kennel name shall be plainly distinguishable from that of another duly registered kennel name.

(k) All persons represented by a kennel name shall sign an authorized agent's application which appoints one person to act as the agent for the kennel name.

(L) The division reserves the right to refuse the privilege of registering a kennel name.

History: Cr. Register, March, 1990, No. 411 , eff. 4-1-90; am. (2) and (3), Register, July, 1990, No. 415 , eff. 8-1-90; correction made under s. 13.93 (2m) (b) 7., Stats., Register, March, 1995, No. 471 ; CR 03-070 : renum. (2) to (5) to be (2) (a), (b), (c) and (3) and am. (2) (a) to (c), Register November 2003 No. 575 , eff. 12-1-03.