Michigan § 431.319b Money placed in escrow before effective date of amendatory act; use by September 1, 2017.

Michigan Statutes

§ 431.319b — Money placed in escrow before effective date of amendatory act; use by September 1, 2017.

Michigan § 431.319b

Ch. 431RACING, BOXING, AND EXHIBITIONS

Act 279 of 1995HORSE RACING LAW OF 1995 (431.301-431.336)

This text of Michigan § 431.319b (Money placed in escrow before effective date of amendatory act; use by September 1, 2017.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 431.319b (2026).

Text

HORSE RACING LAW OF 1995 (EXCERPT) Act 279 of 1995 431.319b Money placed in escrow before effective date of amendatory act; use by September 1, 2017. Sec. 19b. Money that was to be distributed to a certified horsemen's organization but that was placed and remains in escrow under an escrow order of the racing commissioner before the effective date of the amendatory act that added this section must be used by September 1, 2017 for a race meeting conducted by the certified horsemen's organization and the race meeting licensee that were the subjects of the order in accordance with a contractual agreement between a race meeting licensee and the certified horsemen's organization. If a contractual agreement is not reached by September 1, 2017, the racing commissioner shall order distribution of t

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HORSE RACING LAW OF 1995 (EXCERPT) Act 279 of 1995 431.319b Money placed in escrow before effective date of amendatory act; use by September 1, 2017. Sec. 19b. Money that was to be distributed to a certified horsemen's organization but that was placed and remains in escrow under an escrow order of the racing commissioner before the effective date of the amendatory act that added this section must be used by September 1, 2017 for a race meeting conducted by the certified horsemen's organization and the race meeting licensee that were the subjects of the order in accordance with a contractual agreement between a race meeting licensee and the certified horsemen's organization. If a contractual agreement is not reached by September 1, 2017, the racing commissioner shall order distribution of the escrowed money as follows: (a) Fifteen percent to the race meeting licensee that was the subject of the order to be used for track operations and enhancements. (b) Eighty-five percent to the certified horsemen's organization that was the subject of the order to be used for purses at any race meeting in this state for which the certified horsemen's organization has a contract.