Louisiana Revised Statutes 4:214.1 – A. An association shall not be licensed to conduct offtrack or other authorized wagering in the state unless it conducts live horse racing for not less than one hundred twenty-two ra
Terms Used In Louisiana Revised Statutes 4:214.1
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
A. An association shall not be licensed to conduct offtrack or other authorized wagering in the state unless it conducts live horse racing for not less than one hundred twenty-two racing days within each fifty-two-week period at the facility designated in its license. Of the required one hundred twenty-two racing days, not less than seventy-six days shall be thoroughbred horse racing days conducted during no more than twenty-one consecutive weeks and not less than forty-six days shall be quarter horse racing days conducted during no more than twelve consecutive weeks. The foregoing minimum racing requirements are mandatory unless the association is prevented from live racing as a result of a natural disaster, an act of God, force majeure, a catastrophe, or such other occurrence over which the association has no control. When a pari-mutuel wagering facility and a related offtrack betting facility are sold, the purchaser shall conduct the minimum number of live racing days, including the minimum quarter horse racing days, required by this Section as a condition of operating the offtrack betting facility.
B. Notwithstanding any provision of law to the contrary, at any facility subject to the provisions of La. Rev. Stat. 27:372.1(A), the facility shall maintain a minimum of seventy-six thoroughbred horse racing days conducted during twenty consecutive weeks and not less than fifteen days of quarter horse racing conducted during five consecutive weeks. The racing days provided for in this Subsection shall be conducted within a fifty-two-week period. The foregoing minimum racing requirements are mandatory unless the association is prevented from live racing as a result of a natural disaster, an act of God, force majeure, a catastrophe, or such other occurrence over which the association has no control. When a pari-mutuel wagering facility and a related offtrack betting facility are sold, the purchaser shall conduct the minimum number of live racing days, including the minimum quarter horse racing days, required by this Section as a condition of operating the offtrack betting facility.
C. Notwithstanding Subsections A and B of this Section, the commission may reduce the number of race days by up to twenty-one upon a showing by the association and the Horsemen’s Benevolent and Protection Association that the reduction would be in the best interests of the industry.
D. If the association and the Horsemen’s Benevolent and Protection Association cannot reach an agreement pursuant to Subsection C of this Section, the commission may, by a two-thirds vote of the membership, reduce the number of race days by up to twenty-one upon a showing by the association that without the reduction of race days, the association would experience imminent financial distress. The commission shall examine all financial records of the association and any relevant financial records of any affiliates for the purpose of determining equitable cost allocation. Any examination of financial records shall be confidential. After the examination, the commission shall release a summary of relevant facts, but any proprietary information or trade secrets shall remain confidential.
Acts 1989, No. 631, §1, eff. July 7, 1989; Acts 1990, No. 557, §1, eff. July 19, 1990; HCR No. 26, 2005 1st Ex. Sess., eff. Nov. 20, 2005; Acts 2009, No. 242, §1; Acts 2018, No. 575, §2, eff. May 23, 2018; Acts 2020, No. 326, §1, eff. July 12, 2022; Acts 2023, No. 258, §1, eff. June 12, 2023.