1. A. Partnership papers shall, among other things, set forth the following:

   1. 1. the name and address of each and every person having any interest in the horse or horses involved;
   2. 2. the relative proportions of such interests;
   3. 3. to whom the winnings are payable;
   4. 4. in whose name the horse or horses shall run;
   5. 5. with whom the power of entry and declaration rests;
   6. 6. the terms of any contingency, lease or any other arrangement.

2. B. Limited Liability Company shall, among other things, provide for the following:

   1. 1. the name and address of each and every member of the limited liability company;
   2. 2. the relative proportions of such interests;
   3. 3. whether management is reserved to the members or a manager;
   4. 4. with whom the power of entry and declaration rests;
   5. 5. the terms of any contingency, lease or any other arrangement.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 4:148.

Historical Note

HISTORICAL NOTE: Adopted by the Racing Commission in 1971, promulgated by the Department of Commerce, Racing Commission, LR 2:429 (December 1976), amended LR 3:25 (January 1977), LR 4:275 (August 1978), LR 36:2864 (December 2010).