23 CAR § 358-902 – Death or disability of licensee

(a) In the event of the death or judicially established disability of a licensee or a stockholder of a corporate licensee, the spouse, next of kin, personal representative, or guardian of such deceased or persons with disabilities or the person in charge of the licensed establishment, or, in the case of a corporate licensee, a managing officer of such corporation, shall notify the Arkansas Racing Commission immediately of the fact of such death or disability.
(b) In case such deceased or person with disabilities is the sole licensee for an establishment, the commission may in the commission’s sole and absolute discretion, authorize the spouse, next of kin, personal representative, or guardian of such person to continue the operation of such establishment pending action on an application by such spouse, next of kin, personal representative, or guardian for a license to operate such establishment.
(c) In any case in which the interest held by such deceased or person with disabilities in any licensed establishment would pass by operation of law or otherwise to the person’s estate or to any person other than a colicensee, such person or the personal representative or guardian of the deceased or person with disabilities shall, within thirty (30) days after the date of death or disability, make application to the commission for a temporary license as successor in interest, representative, or guardian, whichever is appropriate.
(d)
1. (1) The commission may, in its discretion and if satisfied of the necessity of such action, recommend to the commission that a temporary license be issued to the applicant for such period of time as it may deem necessary.
2. (2) Such temporary license will entitle the person named therein to take part in the operation of such establishment and to receive profits therefrom as successor in interest, representative, or guardian of the deceased or person with disabilities.
3. (3) Such temporary license may not be assigned in whole or in part.
(e) No licensee shall permit any spouse, heir, next of kin, personal representative, or guardian to take part in the operation of the licensed establishment, nor pay over to such person any part of the profits of such operation which accrue after the date of death or disability, unless such person is either a colicensee or the holder of a temporary license as successor in interest, representative, or guardian.
(f) In any case in which the interest held by a deceased or disabled trustee in any licensed establishment would pass to a successor trustee other than a colicensee, such successor trustee shall, within thirty (30) days after the date of death or disability, make application to the commission for a temporary license as successor in interest.