§ 252 — New York state thoroughbred breeding and development fund

§ 252. New York state thoroughbred breeding and development fund. 1. A\ncorporation to be known as the New York state thoroughbred breeding and\ndevelopment fund corporation is hereby created. Such corporation shall\nbe a body corporate and politic constituting a public benefit\ncorporation. It shall be administered by a board of directors consisting\nof the chair of the state gaming commission or his or her designee, the\ncommissioner of agriculture and markets, three members of the state\ngaming commission or their designees, all of whom are experienced, have\nknowledge, or have been actively engaged in the thoroughbred horse\nindustry in the state as designated by the governor and six members\nappointed by the governor, all of whom are experienced or have been\nactively engaged in the breeding of thoroughbred horses in New York\nstate, one, the president or the executive director of the statewide\nthoroughbred breeders association representing the majority of breeders\nof registered thoroughbreds in New York state, one upon the\nrecommendation of the majority leader of the senate, one upon the\nrecommendation of the speaker of the assembly, one upon the\nrecommendation of the minority leader of the senate, and one upon the\nrecommendation of the minority leader of the assembly. Two of the\nappointed members shall initially serve for a two year term, two of the\nappointed members shall initially serve for a three year term and two of\nthe appointed members shall initially serve for a four year term. All\nsuccessors appointed members shall serve for a four year term. All\nmembers shall continue in office until their successors have been\nappointed and qualified. The governor shall designate the chair from\namong the sitting members who shall serve as such at the pleasure of the\ngovernor.\n 2. The powers of the fund shall be vested in and exercised by the\nboard at a meeting duly held at a time fixed by any by-law adopted by\nthe board or at any duly adjourned meeting of such meeting or at any\nmeeting held upon reasonable notice to all of the directors, and a\nmajority of the whole number of directors shall constitute a quorum;\nprovided that neither the business nor the powers of the fund shall be\ntransacted or exercised except pursuant to a favorable vote of at least\na majority of the directors present at a meeting at which a quorum is in\nattendance.\n 3. The board may delegate to one or more of the directors or officers\nof the fund such powers and duties as it may deem proper and shall\nutilize, pursuant to a contract approved by the director of the budget,\nthe service employees of the state gaming commission and the state\noffice of racing promotion and development.\n 4. The directors shall not be entitled to any compensation for their\nservices but shall be entitled to reimbursement for their actual and\nnecessary expenses incurred in the performance of their official duties.\n 5. Such members, except as otherwise provided by law, may engage in\nprivate employment, or in a profession or business including the\nbreeding and racing of thoroughbred horses. The fund, its members,\nofficers and employees shall be subject to the provisions of sections\nseventy-three and seventy-four of the public officers law.\n