                                 CODE OF VIRGINIA

APPLICATION FOR OWNER&#8217;S LICENSE (§ 59.1-377)

A. Any person desiring to construct or own a horse racetrack or satellite
facility where pari-mutuel wagering is permitted shall file with the Commission
an application for an owner&#8217;s license. Such application shall be filed at
the time and place prescribed by the Commission, and shall be in such form and
contain such information as prescribed by the Commission, including but not
limited to the following:

   1. The name and address of such person; if a corporation, the state of its
   incorporation, the full name and address of each officer and director thereof,
   and if a foreign corporation, whether it is qualified to do business in this
   Commonwealth; if a partnership or joint venture, the name and address of each
   officer thereof;

   2. The name and address of each stockholder or member of such corporation, or
   each partner of such partnership or joint venture, and of each person who has
   contracted for a pecuniary interest in the applicant or the enclosure where
   race meetings or pari-mutuel wagering will be conducted, whether such interest
   is an ownership or a security interest, and the nature and value of such
   interest, and the name and address of each person who has agreed to lend money
   to the applicant;

   3. Such information as the Commission deems appropriate regarding the
   character, background and responsibility of the applicant and the members,
   partners, stockholders, officers and directors of the applicant;

   4. The location and description of the racetrack, place or enclosure where
   such person proposes to hold such meetings or wagering, including the name of
   any county, city or town in which any property of such track or satellite
   facility is or will be located. The Commission shall require such information
   about the enclosure and location of such track as it deems necessary and
   appropriate to determine whether they comply with the minimum standards
   provided in this chapter, and whether the conduct of a race meeting or
   pari-mutuel wagering at such location would be in the best interests of the
   people of the Commonwealth;

   5. Such information relating to the financial responsibility of the applicant
   as the Commission deems appropriate;

   6. If any of the facilities necessary for the conduct of racing or pari-mutuel
   wagering are to be leased, the terms of such lease; and

   7. Any other information which the Commission in its discretion deems
   appropriate.

B. Any application filed hereunder shall be verified by the oath or affirmation
of an officer of the applicant, and shall be accompanied by a nonrefundable
application fee as determined by the Commission.

C. Any person who knowingly makes a false statement to the Commission for the
purposes of obtaining a license under this article shall be guilty of a Class 4
felony.

HISTORY: 1988, c. 855; 1991, c. 591; 1992, c. 820.