§ 23-110-301 - Horse racing permitted -- Limitations. - Arkansas Statutes

23-110-301. Horse racing permitted -- Limitations.

(a) (1) Horse racing may be conducted in all political subdivisions of the State of Arkansas, in addition to the City of Hot Springs, Garland County, Arkansas, where horse racing has been made lawful by Arkansas Constitution, Amendment 46, but only by the holder of a franchise granted by the Arkansas Racing Commission.

(2) The commission may grant a franchise only to a corporation organized under the laws of this state.

(b) (1) Franchises may not be granted by the commission to individuals, partnerships, associations, trusts, or to any others except corporations as provided in this section.

(2) However, in the event that the limitations contained in subdivision (b)(1) of this section are declared unconstitutional, then the commission may grant franchises to individuals, partnerships, associations, trusts, and corporations.

(c) Wherever the word "corporation" shall appear in this chapter, it shall be deemed to include the enumeration in subdivision (b)(2) of this section in the event of any declaration of unconstitutionality.

(d) The commission may not grant more than one (1) franchise for conducting horse racing meets in a single county.

(e) No franchise or temporary franchise shall be granted whenever the cost of the plant proposed to be constructed, including lands, buildings, facilities, and equipment, shall be less than three million dollars ($3,000,000).