(a)
- (1) Each franchise holder, unless specifically exempted by the Arkansas Racing Commission, shall file annual reports of financial and statistical data as required by the commission.
- (2) The data may be used by the commission to evaluate the financial position and operating performance of individual franchise holders and compile information regarding the performance and trends of the industry in the State of Arkansas.
- (b) The commission shall periodically prescribe a set of standard reporting forms and instructions to be used by each franchise holder in filing the reports.
(c)
- (1) Each report to the EGS Section shall be received or postmarked no later than the required filing date unless specific approval for an extension is granted to the franchise holder.
- (2) Requests for a filing extension must be submitted to the EGS Section in writing prior to the required filing date.
- (3) Annual reports shall be due not later than March 31 for greyhound franchise holders and June 1 for thoroughbred franchise holders of the following year.
- (d) Franchise holders shall report to the commission essential details of any loans, borrowings, significant installment contracts with a value of over twenty-five thousand dollars ($25,000) per year, guarantees, leases, or capital contributions at least annually.