New York § 501 Definitions

New York Statutes

§ 501 — Definitions

New York § 501

Law PMLRacing, Pari-Mutuel Wagering and Breeding Law

Art. 5Regional Off-track Betting Corporations

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N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 501 (2026).

Text

  § 501. Definitions. As used in this article, in addition to the\ndefinitions set forth in section one hundred one of this chapter, the\nfollowing terms shall mean and include:\n  1. "Board of directors." The board of directors of a corporation as\nsuch board is constituted pursuant to section five hundred two of this\narticle.\n  2. "Corporation." Each regional off-track betting corporation, as\ncreated by section five hundred two of this article.\n  3. "Participating county." Any of the counties in a region which have\nelected to join a corporation in the manner provided for in section five\nhundred two of this article.\n  4. "Bonds and notes." Bonds and notes, respectively, authorized and\nissued by the corporation pursuant to this article.\n  5. "Cost of corporation's functions." All 

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§ 501. Definitions. As used in this article, in addition to the\ndefinitions set forth in section one hundred one of this chapter, the\nfollowing terms shall mean and include:\n 1. "Board of directors." The board of directors of a corporation as\nsuch board is constituted pursuant to section five hundred two of this\narticle.\n 2. "Corporation." Each regional off-track betting corporation, as\ncreated by section five hundred two of this article.\n 3. "Participating county." Any of the counties in a region which have\nelected to join a corporation in the manner provided for in section five\nhundred two of this article.\n 4. "Bonds and notes." Bonds and notes, respectively, authorized and\nissued by the corporation pursuant to this article.\n 5. "Cost of corporation's functions." All costs and expenses incurred\nby the corporation in connection with carrying out the functions as\ndescribed by this article, including, but not limited to, operating\nexpenses of the corporation, the costs of acquisition, construction or\nequipment of branch offices and other facilities of the corporation, and\ninterest and principal on bonds, notes or other obligations of the\ncorporation issued to finance the acquisition, construction or equipment\nof such offices, facilities or premises.\n 6. "Region." The several regions defined by subdivision one of section\nfive hundred nineteen of this chapter.\n 7. "Track." The grounds or enclosure within which horse races are\nconducted by any person, association or corporation lawfully authorized\nto conduct such races.\n 8. "Governing body." The appropriate county legislative body.\n 9. "Branch office." An establishment maintained and operated by the\ncorporation, where off-track, pari-mutuel betting on horse races may be\nplaced in accordance with the terms and conditions of this article and\nthe rules and regulations issued pursuant thereto.\n 10. "Enabling legislation." A local law, ordinance or resolution\nsubject to a permissive referendum pursuant to the municipal home rule\nlaw.\n