PURPOSE: This rule establishes the horsemen’s bookkeeper funds as trust funds.

1. (1) All horsemen’s bookkeeper funds shall be held as a trust fund and shall not be commingled with any other funds.
2. (2) The funds shall be held for the benefit of the horsemen and shall be bonded.
3. (3) This language shall not be construed to prohibit the use of these trust funds to purchase certificates of deposit of United States Treasury notes, from which any and all interest derived shall be held for benefit of the horsemen.
4. (4) Associations shall deposit purses to this fund in the amount advertised on the program on a daily basis.

5. (5) The horsemen shall be considered the owners of these trust funds.

   Auth: section 313.540, RSMo (1986). Emergency rule filed June 20, 1986, effectiue June 30, 1986, expired Oct. 13, 1986. Original rule filed Oct. 3, 1986, effective Jan. 12, 1987.