59.1-383 - Duration, form of operator's license; bond. - Virginia Statutes

§ 59.1-383. Duration, form of operator's license; bond.

A license issued under § 59.1-382 shall be for a period of twenty years fromthe date of issuance, but shall be reviewed annually. The Commission may, asit deems appropriate, change at the beginning of any year the dates on whichthe licensee is authorized to conduct a race meeting or pari-mutuel wagering.An applicant for renewal of a license may omit any information which in theopinion of the Commission is already available to it. The Commission shallestablish criteria and procedures for license renewal.

Any license issued under § 59.1-382 shall designate on its face the type ortypes of horse racing or pari-mutuel wagering for which it is issued, thelocation of the track or satellite facility where such meeting or wagering isto be conducted, the period during which such license is in effect and suchother information as the Commission deems proper.

The Commission shall require a bond with surety acceptable to it, and in anamount determined by it to be sufficient to cover any indebtedness incurredby such licensee during the days allotted for racing.

(1988, c. 855; 1991, c. 591; 1992, c. 820.)