Browse Arkansas Code titles and sections
23-111-402. Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-402. Definition.
For the purposes of §§ 23-111-401, 23-111-403 — 23-111-405, and 23-111-407 — 23-111-409, “principal stockholder” means every stockholder, either individual, partnership, association, or corporation, owning or having control of ten percent (10%) or more of the outstanding stock of a corporation which is an applicant for, or holder of, a franchise to conduct dog racing in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-402
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-111-402
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1c3408e6545fb8c9ca9054de11d81e7f9a107802e9346ba9febdf2ce5eb3109b
Source location: content.xml paragraph 62049
Stored source content
23-111-402. Definition.
For the purposes of §§ 23-111-401, 23-111-403 — 23-111-405, and 23-111-407 — 23-111-409, “principal stockholder” means every stockholder, either individual, partnership, association, or corporation, owning or having control of ten percent (10%) or more of the outstanding stock of a corporation which is an applicant for, or holder of, a franchise to conduct dog racing in this state.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-401. Purpose.
(a) It is determined by the General Assembly that the business of conducting dog racing and pari-mutuel wagering thereon is so clothed with the public interest that the operation should be closely regulated and controlled to the end that the operation will not be conducted in a manner detrimental to the public interest of this state and its citizens and that the policy and manner of operation of the business is largely determined by those who have substantial financial interests in the corporate franchise holder.
(b) Therefore, it is the purpose and intent of §§ 23-111-402 — 23-111-405 and 23-111-407 — 23-111-409 to broaden, clarify, and strengthen the authority of the Arkansas Racing Commission to investigate the personal background of officers, directors, and principal stockholders of applicants for, and holders of, franchises to conduct dog racing in this state and to deny application for, suspend, or revoke a dog racing franchise upon the basis of the personal background of an officer, director, or principal stockholder of an applicant for, or holder of, a franchise, in order that the commission can better perform its duty to regulate and control dog racing in this state in the public interest.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-401
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-111-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-403. Sections 23-111-401, 23-111-402, 23-111-404, 23-111-405, and 23-111-407 — 23-111-409 supplemental.
The provisions of §§ 23-111-401, 23-111-402, 23-111-404, 23-111-405, and 23-111-407 — 23-111-409 are supplemental to the provisions of §§ 23-111-101 — 23-111-104, 23-111-201 — 23-111-205, 23-111-301 — 23-111-308, 23-111-501, and 23-111-506, and 23-111-508 — 23-111-514, and all other laws regarding dog racing in this state and shall not be construed to repeal or modify any of those laws.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-403
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-111-403. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-405. Investigation by Arkansas Racing Commission.
(a)(1)(A) The Arkansas Racing Commission is authorized to conduct a thorough investigation of the personal background of each officer, each director, and each principal stockholder of an applicant for, or holder of, a franchise for conducting dog racing in this state.
(B) In the event a corporation, partnership, or association qualifies as a principal stockholder of an applicant for, or holder of, a franchise for conducting dog racing in this state, then the commission is authorized to conduct a thorough investigation of the personal background of each officer, director, and stockholder of the corporation or the personal background of each member of the partnership or association.
(2) In investigating the personal background of an officer, director, or principal stockholder of an applicant for, or holder of, a dog racing franchise, or the officers, directors, and stockholders of a corporation qualifying as a principal stockholder or the members of any partnership or association qualifying as a principal stockholder, the commission may take into consideration:
(A) Present and past business associations of a person and corporate stockholdings of the person;
(B) Any connection the person has or may have had with any gambling operations or other unlawful operations in this state or any other state;
(C) Any criminal convictions of the person; and
(D) Such other matters as the commission shall deem helpful in determining whether the ownership by the person, corporation, partnership, or association qualifying as a principal stockholder of a substantial amount of stock in the corporate applicant for, or holder of, a franchise to conduct dog racing in this state would or would not be detrimental to the public
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-405
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-111-405. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-407. Report of changes.
Every holder of a franchise to conduct dog racing in this state shall report any and all changes in its board of directors, executive officers, and other management personnel, and all changes in the ownership of its stock, to the Arkansas Racing Commission within ten (10) days next following such a change.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-407
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-111-407. This identifies an authority to review, not proof of applicability.