2006 New York Code - Incorporation.

 
    §  402.  Incorporation. Any number of persons, not less than five, may
  become a corporation for the purpose of conducting  quarter  horse  race
  meetings  at  which  pari-mutuel betting will be conducted, with all the
  general powers of corporations created under the laws of this state,  by
  making,  signing,  acknowledging  and  filing  a certificate which shall
  contain:
    1. The name of the proposed corporation.
    2. The objects for which it is to be formed and the location at  which
  it is proposed to conduct its business.
    3. The amount and description of the capital stock.
    4. The location of its principal business office.
    5. Its duration, which shall not exceed fifty years.
    6.  The  number  of  its  directors,  not less than five nor more than
  thirteen.
    7. The names and post office addresses of the directors for the  first
  year.
    8. The post office addresses of the subscribers and a statement of the
  number of shares of stock which each agrees to take in the corporation.
    No  certificate of incorporation under this section shall hereafter be
  filed without the approval  of  the  state  racing  and  wagering  board
  indorsed thereon or annexed thereto.
    No  corporation  organized  pursuant  to  this  article or operating a
  quarter horse race meet pursuant  to  the  provisions  of  section  four
  hundred  four of this chapter, shall have or be given the right or power
  to conduct any quarter horse race meet pursuant to this  article  except
  at  the  location  designated in its certificate of incorporation as the
  place at which it  was  proposed  to  conduct  its  business;  provided,
  however,  that  this restriction shall not apply to any such corporation
  or association whose racing plant or the usefulness thereof  or  of  any
  material  part  thereof,  in  the discretion of the board shall, for any
  reason beyond the control of such corporation or association, be totally
  destroyed or so substantially interfered with or damaged  as  to  render
  same   unfit   for   continued  operation.  Pending  the  rebuilding  or
  restoration of its usefulness or the making of the required  repairs  to
  said  plant  or  the part thereof so destroyed or damaged, the board may
  license such corporation or association to  conduct  its  quarter  horse
  race meetings at any other suitable location.