Pennsylvania Code › Title 58 - RECREATION › Part IV - Horse Racing Commission › Chapter 165 - ADMINISTRATIVE RULES › Subchapter B - LICENSES › Section 165.30 - Concessionaires

Current through Register Vol. 54, No. 28, July 13, 2024
Any person, firm, association, group, or corporation which
					 holds any concession, right, or privilege to perform any service or sell any
					 article at any race track at which a corporation licensed by the Commission
					 conducts race meets must submit to the Commission a copy of each report, advice
					 or other document which that person, firm, association, group, or corporation
					 furnishes or is required to furnish to the licensee in order to substantiate
					 any commission rentals, service fees and similar financial or other
					 arrangements between the parties. Any person, firm, association, group or
					 corporation operating a concession, performing any service or selling any
					 article at more than one licensed track must submit separate reports of his
					 operation at each track.
(1)
Financial statements.
At the end of each meet such person,
				  firm, association, group or corporation shall prepare and send to the
				  Commission a record of its operations at the track in the form of a Profit and
				  Loss Statement. Such report shall show the gross revenues derived from the
				  meet, as well as all expenses paid or accrued during the same period. Income
				  and expense items must be shown in detail in such reports; must be verified by
				  at least two of the principal officers of the firm, association, or group, if
				  an association, corporation or group, and by the one or more owners or
				  proprietors thereof if not an association, corporation or group. Such report
				  must be filed with the Commission within 30 days after the end of each
				  individual meet. Within 75 days after the end of its calendar or fiscal year,
				  all such persons, firm, association, corporation or group shall submit to the
				  Commission, verified financial statements, including a Balance Sheet and a
				  Statement of Profit and Loss, showing the combined operations for that year and
				  the results of such operations for each specific thoroughbred horse race meet
				  at which he, they or it, conducted business during the year.
(2)
Reports.
Such person,
				  firm, association, corporation, or group, if requested, must submit to the
				  Commission the following:
(i) Copies of weekly
				  payrolls of all personnel employed at the track during its race meet, including
				  address and title of each employe.
(ii) Copies of all written contracts and
				  agreements and a summary of all verbal contracts and agreements.
(iii) List of stockholders annually or as the
				  Commission may require.
(iv) List
				  of officers and directors and compensation paid to each annually, or as the
				  Commission may require.
(v) Upon
				  the sale or transfer of any stock of any concessionaire at a licensed
				  thoroughbred horse racing track, evidence of such sale or transfer must be
				  transmitted to the Commission by affidavit verifying such transfer or sale
				  containing such information as is required of stock transfers of licensed
				  corporations.