2021 New York Laws
PML - Racing, Pari-Mutuel Wagering and Breeding Law
Article 4 - Quarter Horse Racing and Breeding
415 - Bond Required of Corporation or Association Conducting Pari-Mutuel Betting.

§   415.  Bond  required  of  corporation  or  association  conducting
  pari-mutuel betting. Every corporation or association  licensed  by  the
  commission  to  conduct quarter horse race meetings at which pari-mutuel
  betting shall be permitted, annually and before the opening of any  race
  meeting shall execute and file with the state comptroller a bond to this
  state in a penalty to be fixed by the department of taxation and finance
  not exceeding two hundred fifty thousand dollars, with sureties approved
  by  the  attorney  general,  that it will keep its books and records and
  make reports as required by  sections  two  hundred  twenty-two  through
  seven  hundred  five  of this chapter, that it will pay to the state all
  taxes imposed by sections two hundred twenty-two through  seven  hundred
  five  of  this  chapter,  that  it  will  distribute  to  the patrons of
  pari-mutuel pools conducted by it all  sums  due  upon  presentation  of
  winning tickets held by them, and that it will otherwise comply with all
  of  the  provisions  of  sections  two  hundred twenty-two through seven
  hundred five  of  this  chapter  and  with  the  rules  and  regulations
  prescribed by the commission and the department of taxation and finance.