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(230 ILCS 5/24)
(from Ch. 8, par. 37-24)
(a) No license shall be issued to or held by an organization
licensee unless all of its officers, directors, and holders of ownership
interests of at least 5% are first approved by the Board. The Board shall not
give approval of an organization license application to any person who has been
convicted of or is under an indictment for a crime of moral turpitude or has
violated any provision of the racing law of this State or any rules of the
(b) An organization licensee must notify the Board within 10 days of any
change in the holders of a direct or indirect interest in the ownership of the
organization licensee. The Board may, after hearing, revoke the organization
license of any
person who registers on its books or knowingly permits a direct or indirect
interest in the ownership of that person without notifying the Board of the
name of the holder in interest within this period.
(c) In addition to the provisions of subsection
(a) of this Section, no person shall be granted an
any public official of the State or member of his
or her family holds any ownership or financial interest, directly or
indirectly, in the person.
(d) No person which has been granted an organization
to hold a race meeting shall give to any public official or member of his
family, directly or indirectly, for or without consideration, any interest in the person. The Board shall, after hearing, revoke
the organization license granted to a person which has
violated this subsection.
(f) No organization licensee or concessionaire or officer, director or
holder or controller of
5% or more legal or beneficial interest in any organization licensee or
shall make any sort of
gift or contribution of any kind or pay or give any money or other thing
of value to any
person who is a public official, or a candidate or nominee for public office.
(Source: P.A. 89-16, eff. 5-30-95.)