§ 303-a. Non-managing ownership of standardbred horses. (a) For purposes of this section, a managing owner shall mean a person who through ownership, lease or designation manages all racing activities for a race horse and is personally responsible for all liabilities arising therefrom.

Terms Used In N.Y. Racing, Pari-Mutuel Wagering and Breeding Law 303-A

  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • racing: as used in this article , shall be construed to mean only horse racing in which the horses participating are harnessed to a sulky, carriage, or similar vehicle, and shall not include any form of horse racing in which the horses participating are mounted by a jockey. See N.Y. Racing, Pari-Mutuel Wagering and Breeding Law 301

(b) Non-managing owners. There shall be no restriction on the number of non-managing owners of a race horse except that no horse shall be entered or started that is owned by thirty-five or fewer owners unless all such owners are licensed; in the event that a horse is owned by more than thirty-five owners, only those individuals having a three percent or greater property interest in such horse shall be required to be licensed as an owner.

The commission shall adopt rules and regulations regarding ownership of horses not inconsistent with this section.

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