Approval by the Arkansas Racing Commission required for all issues or transfers by a holding company or intermediary company of its securities
Arkansas Constitution, Amendment 100, sec. 4
- (a) No holding company shall, and it shall be grounds for disciplinary action if a holding company shall, issue or transfer any security of which it is the issuer without the prior approval of the Arkansas Racing Commission.
- (b) As used herein, the terms “issue or transfer” extend to transactions involving any type of ownership referred to in this part.
- (c) Every approval required by this subpart shall be sought by the filing of an application complying with this part.