No person may hold any racing meeting or collect or disburse any money under the certificate system without having first obtained and having in full force and effect a license issued by the commission. Any person who violates the provisions of this section is guilty of a Class 1 misdemeanor.

Source: SDC 1939, § 53.9902; SDCL, § 42-7-9; SL 1977, ch 190 , § 622; SL 1978, ch 302 , § 13; SL 1991, ch 349 , § 10; SL 2000, ch 212 , § 1.