Finding of suitability of a person holding an option to acquire an interest in a general partnership licensee
Arkansas Constitution, Amendment 100, sec. 4
- (a) No person shall acquire or be granted an option to purchase an interest in a general partnership licensee without first notifying the Arkansas Racing Commission, on such forms as may be required by the commission, of the terms and conditions upon which the option was granted or acquired.
- (b) The commission may, upon a recommendation by the commission, require the application of any person for a determination of suitability to hold an option to purchase or otherwise obtain an interest in a general partnership licensee.