                                 CODE OF VIRGINIA

ISSUANCE OF OPERATOR&#8217;S LICENSE (§ 59.1-382)

The Commission shall promptly consider any application for an operator&#8217;s
license and grant a valid operator&#8217;s license to applicants who meet the
criteria set forth in this chapter and established by the Commission. The
Commission shall deny a license to any applicant, unless it finds:

1. That such applicant is a corporation organized under Title 13.1 or comparable
law of another state, and qualified to do business in Virginia;

2. That, if the corporation is a stock corporation, all principal stockholders
have submitted to the jurisdiction of the Virginia courts and all nonresident
principal stockholders have designated the Executive Secretary of the Commission
as their agent for process, and further, that an application shall also contain
information as required by &#xA7; 59.1-377;

3. That the applicant&#8217;s articles of incorporation provide that the
corporation may, on vote of a majority of the stockholders or members, purchase
at fair market value the entire membership interest of any stockholder, or
require the resignation of any member, who is or becomes unqualified for such
position under &#xA7; 59.1-379;

4. That the applicant would be qualified for a license to own such horse
racetrack or satellite facility under the provisions of &#xA7;&#xA7; 59.1-378
and 59.1-379;

5. That the applicant has made provisions satisfactory to the Commission for the
detection and prosecution of any illegal, corrupt or fraudulent act, practice or
conduct in connection with any race meeting or pari-mutuel wagering, that the
applicant has made provision for membership in the Thoroughbred Racing
Association or other equivalent applicable association, and that the applicant
shall utilize the services of the Thoroughbred Racing Protective Bureau or any
other protective agency acceptable to the Virginia Racing Commission;

6. That the applicant has met the criteria established by the Commission for the
granting of an operator&#8217;s license.

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