2010 Maryland Code
BUSINESS REGULATION
TITLE 11 - HORSE RACING
Subtitle 5 - Thoroughbred Racing
Section 11-515.1 - Amount of takeout.
§ 11-515.1. Amount of takeout.
(a) In general.- Notwithstanding § 11-515 of this subtitle, the amount of the takeout relating to purses, the Maryland-Bred Race Fund, and the amount retained by the licensee may be allocated in accordance with the terms of a written agreement signed by the authorized representatives of:
(1) the licensee;
(2) the group that represents a majority of the owners and trainers licensed in the State at the time the agreement is signed; and
(3) the group that represents a majority of the breeders in the State at the time the agreement is signed.
(b) Alterations.- Nothing in this section may be construed to permit the licensee to in any way alter the mandatory takeout allocated to the Commission for the State tax.
[2000, ch. 309, § 1; 2001, ch. 29, § 1; 2004, ch. 97, § 3.]
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