§ 23-111-514 - Franchise holder required to give bond. - Arkansas Statutes

23-111-514. Franchise holder required to give bond.

Every franchise holder to which a license may be granted under this chapter at its own cost and expense shall, before the license is delivered, give a bond, in the penal sum of ten thousand dollars ($10,000) payable to the commission with a surety to be approved by the Arkansas Racing Commission, conditioned to faithfully make the payments to the commission provided for in this chapter, and keep its books and records and make reports provided in this chapter and to conduct its race meeting in conformity with the provisions of this chapter.