California Food and Agricultural Code 4052 – An association shall not lease its racetrack for running races of …
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An association shall not lease its racetrack for running races of horses to any private person, firm, or corporation, except to a national or international exposition or its affiliated corporations or associations for the period of time which is now permitted by law for fairs.
(Amended by Stats. 1967, Ch. 1579.)
Terms Used In California Food and Agricultural Code 4052
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Person: means any individual, partnership, association, corporation, limited liability company, or any organized group of persons whether incorporated or not. See California Food and Agricultural Code 38