(a) Any person desiring to conduct a horse racing meet within Kent County during any calendar year shall file an application with the Secretary of the Commission on or before a date to be fixed by the Commission. The application shall specify the days on which such racing is desired to be conducted and shall be in such form and supply such data and information, including a blueprint of the track and specifications of its surface and blueprints and specifications of buildings and grandstand on the land where the meet is to be conducted as the Commission prescribes; provided, however, that it shall not be necessary for the applicant to submit blueprints and specifications with the application if the race meet for which a license is requested to be conducted is at a track for which the Commission granted a license the preceding year.

(b) The blueprints and specifications shall be subject to the approval of the Commission, which, at the expense of the applicant, may order such engineering examination thereof as the Commission deems necessary. The erection and construction of the track, grandstand and buildings of any applicant for a license to conduct horse racing under this chapter shall be subject to the inspection of the Commission, which may order such engineering examination as the Commission deems necessary at the expense of the applicant and may employ such inspectors as the Commission considers necessary for that purpose.

(c) The Commission may reject any application for a license for any cause which it deems sufficient, and the action of the Commission shall be final.

(d) The Commission shall, on or before January 15 of each year, award all dates for horse racing in Kent County within the current year, but the dates so awarded shall not exceed 55 days in the aggregate. The decision of the Commission on the award of all dates shall be final.

(e) No more than 2 horse racing meets shall be held in Kent County in any 1 year.

(f) The Commission may meet subsequently to January 15 of each year and award dates for horse racing within the limits provided in this section on application submitted to it, provided that the days so awarded in no way conflict with any other provision of this chapter.

(g) No license to conduct horse racing under the provisions of this section shall be granted except to a private stock corporation formed and existing under the laws of this State for the purpose of conducting horse racing and businesses incident thereto in compliance with the following conditions and requirements:

(1) Before a license shall be issued under the provisions of this chapter, the applicant shall file with the Commission, in addition to other requirements of this chapter, the names, addresses and the terms of office of its directors and officers and at such other time or times thereafter as they may be changed, the names and addresses of such directors and officers, a copy of the certificate of incorporation duly certified by the Secretary of the State and a copy of its bylaws. Such applicant shall file with the Commission a copy of any amendment to its certificate of incorporation, duly certified as aforesaid, within 10 days after the effective date of any such amendment;

(2) The board of directors of the applicant shall not be less than 5 in number;

(3) The applicant shall have no other office except in this State;

(4) Every applicant for a license shall file with the Commission, at the time of application for a license, a statement of its resources and liabilities. The Commission shall have access at all times to the books, records and accounts of the licensee;

(5) No license shall be issued unless a majority of the board of directors and officers shall be bona fide residents of this State.

28 Del. C. 1953, § ?403; 56 Del. Laws, c. 119; 56 Del. Laws, c. 245; 57 Del. Laws, c. 304; 59 Del. Laws, c. 178, § ?1;