313.590. Track license--bond required, purpose. - Missouri Statutes

Track license--bond required, purpose.

313.590. A race track licensed under section 313.580 shallpost a bond payable to the state of Missouri, before thelicense is issued, in an amount set by the commission, withsureties to be approved by the commission. The bond shall beused to guarantee that the licensee faithfully makes thepayments, keeps its books and records and makes reports, andconducts its racing activity in conformity with sections313.500 to 313.710 and the rules adopted by the commission.The bond shall not be canceled or assigned by a surety on lessthan thirty days' notice in writing to the commission. If abond is canceled and the licensee fails to file a new bond withthe commission in the required amount on or before theeffective date of cancellation, the licensee's license shall berevoked. The total and aggregate liability of the surety onthe bond is limited to the amount specified in the bond.

(L. 1986 S.B. 572)

Effective 5-6-86