§ 214. Acquisition of racing facilities. Any franchised corporation desiring to acquire racing facilities, including real estate, or the capital stock of one or more racing associations shall apply to the franchise oversight board for approval of such acquisition. If in the judgment of such board the public interest, convenience or necessity and the best interest of racing generally will be served thereby, such board shall enter an order granting approval of such acquisition and of the terms thereof.

Terms Used In N.Y. Racing, Pari-Mutuel Wagering and Breeding Law 214

  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
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