Each application for a fair association or horsemen's nonprofit organization license in which the applicant proposes to own or to construct a racetrack facility shall contain the following information concerning the applicant's financial resources: (a) A financial statement that reflects the applicant's current assets, including investments, loans, and advances receivable; and

1. (b) fixed assets and current liabilities, including loans and advances payable, long-term debt, and equity.

(Authorized by K.S.A. 2000 Supp. 74-8804 and 74-8814; implementing K.S.A. 2000 Supp. 74-8804, 74-8813, as amended by L. 2001, Ch. 5, Sec. 342, and 74-8814; effective Nov. 30, 1992; amended July 10, 1995; amended Nov. 16, 2001.)