Texas Occupations Code 2026.006 – Lease of Racetrack Premises
Current as of: 2024 | Check for updates
|
Other versions
(a) The commission by rule may authorize a racetrack association, as lessee, to contract for the lease of a racetrack and the surrounding structures.
(b) The commission may not approve a lease if:
(1) the lease appears to be a subterfuge to evade compliance with § 2025.101 or 2025.201;
(2) the racetrack and surrounding structures do not conform to the rules adopted under this subtitle; or
(3) the lessee, prospective lessee, or lessor is disqualified from holding a racetrack license.
Terms Used In Texas Occupations Code 2026.006
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Rule: includes regulation. See Texas Government Code 311.005
(c) Each lessor and lessee under this section must comply with the disclosure requirements of § 2025.052(a)(1). The commission may not approve a lease if the lessor and lessee do not provide the required information.