Title PML, Racing, Pari-Mutuel Wagering and Breeding Law

§ 506. Loans and contributions by a participating county to a\ncorporation. 1. A participating county shall have power to loan or\ncontract to loan money to a corporation in such amounts, upon such terms\nand conditions and for such period or periods of time as in the judgment\n…

§ 507. Contracts of corporations. 1. Each corporation shall let\ncontracts for construction or any other work, including the furnishing\nof materials or supplies incident thereto, and contracts for the\npurchase or procurement of equipment, materials or supplies: (i) in the\nman…

§ 508. Issuance of bonds and notes by a corporation. 1. Each\ncorporation shall have the power and is hereby authorized, from time to\ntime, to issue negotiable bonds and notes in such aggregate principal\namounts as shall, in the opinion of the corporation, be necessary\ntogeth…

§ 509. Reserve fund. 1. The corporation shall create and establish a\nspecial fund (herein referred to as the capital reserve fund), and shall\npay into such capital reserve fund:\n a. Any moneys appropriated and made available by participating\ncounties for the purpose of such …

§ 509-a. Capital acquisition fund. 1. The corporation may create and\nestablish a capital acquisition fund for the purpose of financing the\nacquisition, construction or equipping of offices, facilities or\npremises of the corporation. Such capital acquisition fund shall consist…

§ 510. State and participating counties not liable on bonds and notes.\nThe bonds, notes or other obligations of a corporation shall not be a\ndebt of either the state of New York or of any participating county and\nneither the state nor any county shall be liable thereon, nor s…

§ 511. State's right to require redemption of bonds. Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require a corpora…

§ 512. Remedies of holders of bonds and notes. 1. In the event that a\ncorporation defaults in the payment of the principal of or interest on\nany issue of bonds or notes after the same becomes due, whether at\nmaturity or upon call for redemption, and such default continues for…

§ 513. Exemption from taxation. 1. The moneys and property of each\ncorporation and any property under its jurisdiction, control or\nsupervision, and all of its activities and operations shall be exempt\nfrom taxation. Provided, however, no exemption is granted from the taxes\ni…

§ 514. Notice of claim; action against corporation. 1. In every action\nagainst a corporation for damages, for injuries to real or personal\nproperty, or for the destruction thereof, or for personal injuries, the\ncomplaint shall contain an allegation that at least thirty days h…

§ 515. Bonds and notes as legal investments. The bonds and notes of a\ncorporation are hereby made securities in which all public officers and\nbodies of this state and all municipalities and municipal subdivisions,\nall insurance companies and associations, and other persons ca…

§ 516. Moneys of corporations; disposition of net revenues. 1. The\nmonetary transactions of the corporation and the keeping of its books\nand accounts shall be under the supervision of the board of directors\nwho shall be subject to the general and specific jurisdiction of the\…

§ 517. Annual reports. In addition to the reports required by article\nfive-a of this chapter, within one hundred twenty days after the end of\nthe fiscal year of the corporation, the directors thereof shall submit\nto the participating counties, the commission, and the state co…

§ 518. Off-track pari-mutuel betting; objectives. In the exercise of\nthe power vested in it by subdivision one of section nine of article one\nof the state constitution, the legislature hereby prescribes that\noff-track pari-mutuel betting on horse races, conducted under the\na…

§ 519. Definitions. The following terms shall mean and include:\n 1. "Region." One or more of the following named regions comprised of\nthe counties indicated:\n a. Suffolk: Suffolk county;\n b. Nassau: Nassau county;\n c. New York city: the five counties comprising the city of …

§ 520. General jurisdiction. 1. The commission shall have general\njurisdiction over the operation of all off-track betting facilities\nwithin the state. The commission shall issue rules and regulations in\naccordance with the provisions of this article in order to ensure the\na…

§ 521. Approval of plans of operation; amendments. In order to\naccomplish the objectives of this article, the commission shall have the\npower, subject to the provisions of this article but without limiting\nthe generality of any provision of this chapter, to approve a plan of\…

§ 522. Suspension of approval. 1. The commission may suspend its\napproval of any plan of operation if the regional corporation whose plan\nof operation has been approved or its officers or directors fails to\nconduct off-track pari-mutuel betting on horse races in accordance wi…

§ 523. General limitations on off-track betting. The commission shall\nrequire that any regional corporation conduct off-track pari-mutuel\nbetting in accordance with this section.\n 1. The system of off-track betting operated by such corporation,\nexcept as otherwise provided i…

§ 524. Reports, accounts, investigations. 1. The commission shall,\nconsistent with the powers of the department of taxation and finance,\nprescribe uniform methods of keeping accounts, records and books to be\nobserved by regional corporations. The commission shall, consistent …

§ 525. Statewide transmission. Subject to the general limitations of\nthis article, the provisions of its plan of operation and the rules and\nregulations of the commission, each regional corporation may provide for\ndirect transmission of off-track wagering information to a tra…

§ 526. Use of track facilities; combined pools. In order to effectuate\nthe general policy of this article that off-track and on-track wagers be\ncombined into single pools to provide uniform odds and payouts, track\noperators shall be subject to the requirements of this section…

§ 527. Disposition of off-track pools; state tax. Each regional\ncorporation conducting off-track betting shall distribute all sums\ndeposited in any pari-mutuel pool through such corporation to the\nholders of winning tickets therein, providing such tickets be presented\nfor pa…

§ 528. Agreements involving other states. 1. The commission shall be\nempowered to conclude agreements with another state or a racing\ncorporation or association in another state, as the case may be, on\nbehalf of any or all regional corporations for the purpose of conducting\no…

§ 529. Unclaimed winnings and refunds. The commission shall require\neach regional corporation to establish a non-escrowed account for\npayment of outstanding winning tickets and for payment of refunds to\nticket holders entitled thereto under the rules of the commission.\n 1. A…

§ 530. Job security for track employees. Plans of operation of\nregional off-track betting corporations shall include provision for job\nsecurity for employees of racetracks within each region compatible with\nand in furtherance of the objectives of this article and subject to t…

§ 531. Reduction of local admissions taxes as a pre-condition of\noff-track betting. 1. Notwithstanding article eight of this chapter and\nsubdivision twenty-four of section sixty-four of the town law, no\nlocally imposed taxes on admissions to harness or running races shall be\…

§ 532. Surcharge on off-track winnings; disposition of revenues. 1.\nNotwithstanding any other provision of law, each regional off-track\nbetting corporation, or off-track betting operator, including the New\nYork city off-track betting corporation, conducting off-track betting\…

§ 601. Declaration of policy and statement of purposes. It is hereby\nfound, determined and declared:\n 1. That the New York state off-track pari-mutuel betting law was\ncreated by a chapter of the laws of nineteen hundred seventy;\n 2. That the New York state off-track pari-mut…

§ 602. Definitions. As used in this article, the following terms shall\nmean and include:\n 1. "Administrative code." The administrative code of the city.\n 2. "Board." The board of directors of the corporation as such board is\nconstituted pursuant to section six hundred three …

§ 603. New York city off-track betting corporation. 1. A corporation\nto be known as the "New York city off-track betting corporation" is\nhereby created. Such corporation shall be a body corporate and politic\nconstituting a public benefit corporation. It shall be administered …

§ 604. Powers of the corporation. The corporation shall have power:\n 1. To sue and be sued;\n 2. To have a seal and to alter the same at its pleasure;\n 3. To acquire, hold, lease, rent and dispose of personal property for\nits corporate purpose;\n 4. To acquire, in the name of…

§ 605. Policing of off-track betting. 1. The corporation shall, at its\nown expense, provide such policing as may be necessary to preserve order\nin branch offices and other facilities and premises of the corporation\nand enforce the provisions of this article and the rules and …

§ 606. Personnel administration; pension, retirement and other\nbenefits. 1. For the purposes of this section, all employees of the New\nYork city off-track betting corporation on or after the effective date\nof the chapter of the laws of two thousand eight which amended this\ns…

§ 607. Acquisition or leasing of property by the state or corporation;\nagreements between the state and corporation as to use or occupancy of\nproperty. 1. The state may, in accordance with the provisions of law\ngoverning the acquisition or leasing of real property by the stat…

§ 609. Contracts of corporation. 1. The corporation shall let\ncontracts for construction or any other work, including the furnishing\nof materials or supplies incident thereto, and contracts for the\npurchase or procurement of equipment, materials or supplies: (i) in the\nmanne…

§ 609-a. Capital acquisition fund. The corporation may create and\nestablish a capital acquisition fund for the purpose of financing the\nacquisition, construction or equipping of offices, facilities or\npremises of the corporation. Such capital acquisition fund shall consist\no…

§ 610. Moneys of corporation. 1. The monetary transactions of the\ncorporation and the keeping of its books and accounts shall be under the\nsupervision of the director of the division of the budget. The chair of\nthe commission may at any time request and shall be provided for …

§ 611. Issuance of bonds and notes by corporation. 1. The corporation\nshall have the power and is hereby authorized, from time to time, to\nissue negotiable bonds and notes in such aggregate principal amounts as\nshall, in the opinion of the corporation, be necessary together w…

§ 612. Reserve fund. 1. The corporation shall create and establish a\nspecial fund herein referred to as the capital reserve fund, and shall\npay into such capital reserve fund:\n a. any moneys appropriated and made available by the state for the\npurpose of such capital reserve…

§ 613. Agreement of the state. The state does pledge to and agree with\nthe holders of any and all bonds and notes of the corporation that the\nstate will not authorize any officer or agency of government, other than\nthe corporation, or any private person, to conduct off-track …

§ 614. State and city not liable on bonds and notes. The bonds, notes\nor other obligations of the corporation shall not be a debt of either\nthe state or the city, and neither the state nor the city shall be\nliable thereon, nor shall they be payable out of any funds other than…

§ 616. Remedies of holders of bonds and notes. 1. In the event that\nthe corporation shall default in the payment of the principal of or\ninterest on any issue of bonds or notes after the same shall become due,\nwhether at maturity or upon call for redemption, and such default s…

§ 617. Exemption from taxation. 1. The moneys and property of the\ncorporation and any property under its jurisdiction, control or\nsupervision, and all of its activities and operations shall be exempt\nfrom taxation.\n 2. The state covenants with the purchasers of and with all …

§ 618. Notice of claim; action against corporation. 1. In every action\nagainst the corporation for damages, for injuries to real or personal\nproperty, or for the destruction thereof, or for personal injuries, the\ncomplaint shall contain an allegation that at least thirty days…

§ 619. Civil actions against employees of the corporation. 1. As used\nin this section the following terms shall mean and include:\n a. "Corporation counsel." The corporation counsel of the city.\n b. "Employee." Any officer, director or employee of the corporation, a\nformer of…

§ 620. Bonds and notes as legal investments. The bonds and notes of\nthe corporation are hereby made securities in which all public officers\nand bodies of this state and all municipalities and municipal\nsubdivisions, all insurance companies and associations, and other\npersons…

§ 621. Annual and special reports. Within one hundred twenty days\nafter the end of the fiscal year of the corporation, the directors\nthereof shall submit to the governor, the legislature, the commission\nand the state comptroller a complete and detailed report setting forth:\n…

§ 622. Separability. If any section, provision or part of this\narticle, or the application thereof to any person or circumstances shall\nbe held invalid by any court of competent jurisdiction, the remainder\nthereof or the application of such section, provision or part to any\n…

§ 623. Inconsistent provisions of other laws superseded. Insofar as\nthe provisions of this article are inconsistent with the provisions of\nany other law, general, special or local, the provisions of this article\nshall be controlling.\n