2006 New York Code - Right To Hold Race Meetings And Races.

 
    §  204.  Right to hold race meetings and races. Any corporation formed
  under the provisions of this article, if so claimed in  its  certificate
  of  organization, and if it shall comply with all the provisions of this
  article,  and  any  other  corporation  entitled  to  the  benefits  and
  privileges of this article as hereinafter provided, shall have the power
  and  the  right  to hold one or more running race meetings in each year,
  and to hold, maintain and conduct running races  at  such  meetings.  At
  such  running  race  meetings  the  corporation, or the owners of horses
  engaged in such races, or others who are not participants in  the  race,
  may  contribute  purses, prizes, premiums or stakes to be contested for,
  but no person or persons other than the owner or owners of  a  horse  or
  horses  contesting  in  a  race  shall  have any pecuniary interest in a
  purse, prize, premium or  stake  contested  for  in  such  race,  or  be
  entitled  to or receive any portion thereof after such race is finished,
  and the whole of such purse, prize, premium or stake shall  be  allotted
  in  accordance  with  the  terms  and  conditions  of such race.   Races
  conducted by a non-profit racing association incorporated in  accordance
  with  section two hundred two or two hundred two-a of this chapter shall
  be permitted only between sunrise and sunset.  A  track  first  licensed
  after  January  first,  nineteen  hundred  ninety, shall not conduct the
  simulcasting of thoroughbred races within district  one,  in  accordance
  with  article  ten  of  this  chapter  on  days that a non-profit racing
  association is  not  conducting  a  race  meeting.  In  no  event  shall
  thoroughbred  races  conducted  by  a track first licensed after January
  first, nineteen hundred ninety be conducted  after  eight  o'clock  post
  meridian.