§ 230. Membership in a national thoroughbred racing association.\nNotwithstanding any other provision of law to the contrary, if a\nmajority of the board of directors of a horsemen's organization\nqualified pursuant to section two hundred twenty-eight of this article\nshall annually approve, the qualified horsemen's organization may\nrequest that the franchised corporation make payments, from funds earned\nand retained for purses, to the National Thoroughbred Racing\nAssociation, for the purposes of establishing and maintaining membership\nfor such organization. Upon receipt of a duly adopted corporate\nresolution requesting payment to the National Thoroughbred Racing\nAssociation from a qualified horsemen's organization, the franchised\ncorporation shall make payments from funds earned
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§ 230. Membership in a national thoroughbred racing association.\nNotwithstanding any other provision of law to the contrary, if a\nmajority of the board of directors of a horsemen's organization\nqualified pursuant to section two hundred twenty-eight of this article\nshall annually approve, the qualified horsemen's organization may\nrequest that the franchised corporation make payments, from funds earned\nand retained for purses, to the National Thoroughbred Racing\nAssociation, for the purposes of establishing and maintaining membership\nfor such organization. Upon receipt of a duly adopted corporate\nresolution requesting payment to the National Thoroughbred Racing\nAssociation from a qualified horsemen's organization, the franchised\ncorporation shall make payments from funds earned and retained for\npurses on behalf of such qualified horsemen's organization, provided:\n 1. In no event shall the sum of the payments made pursuant to the\ncorporate resolution during any twelve month period exceed an amount\nequal to one and one-quarter per centum of the total purses paid at all\ntracks operated by the franchised corporation during the preceding\ncalendar year.\n 2. Payments shall be made by the franchised corporation in accordance\nwith a schedule provided in the corporate resolution by the board of the\nqualified horsemen's organization. Such schedule shall (i) identify the\ntwelve month period commencing on April first during which a specific\nsum is to be paid and (ii) delineate a timetable for making the\npayments, which are to be equal in amount and made no less frequently\nthan every three months.\n 3. Upon receipt of a duly adopted corporate resolution from the\nqualified horsemen's organization stating that a majority of its board\nmembers has voted to rescind approval of such payments, the franchised\ncorporation shall make no further payments unless and until it receives\na duly adopted corporate resolution as described in this section.\n