§ 11-515.1. Amount of takeout

Latest version.

   (a) In general. -- Notwithstanding § 11-515 of this subtitle, the amount of the takeout relating to purses, the Maryland-Bred Race Fund, and the amount retained by the licensee may be allocated in accordance with the terms of a written agreement signed by the authorized representatives of:

   (1) the licensee;

   (2) the group that represents a majority of the owners and trainers licensed in the State at the time the agreement is signed; and

   (3) the group that represents a majority of the breeders in the State at the time the agreement is signed.

(b) Alterations. -- Nothing in this section may be construed to permit the licensee to in any way alter the mandatory takeout allocated to the Commission for the State tax.

HISTORY: 2000, ch. 309, § 1; 2001, ch. 29, § 1; 2004, ch. 97, § 3.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');