(a)
- (1) Each authorized agent must file an application for a license for each owner represented setting forth the agent's authority to act for the owner, including any authority the agent may have to collect money from the franchise holder.
- (2) A copy of the agent's agreement with the owner, if in writing, shall be attached to the application.
- (b) A copy of the application and written agreement, if any, shall be filed permanently with the Racing Secretary.
- (c) Any changes in the agent's authority must be in writing and filed as above provided.
- (d) If an agent represents more than one (1) owner, a separate application shall be filed for each owner.
- (e) The term of the license shall be the calendar year unless the agent's appointment is revoked by the owner or the license is revoked by the Arkansas Racing Commission.
- (f) The revocation of an agent's authority shall be filed in writing with the commission and with the Racing Secretary.