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RULE §313.61Horsemen's Bookkeeper

(a) Designation of horsemen's bookkeeper.

  (1) An association shall ensure a horsemen's bookkeeper is available to maintain the horsemen's account.

  (2) The executive secretary may designate an entity unrelated to the association to serve as the horsemen's bookkeeper. To be designated as the horsemen's bookkeeper, an entity must submit a plan of operation acceptable to the executive secretary that demonstrates the entity's ability to perform the duties of the horsemen's bookkeeper.

  (3) A designation as horsemen's bookkeeper does not constitute a license, but the executive secretary may require any individual involved with a designated entity to receive a license.

  (4) If the executive secretary approves an association's request to designate an entity as horsemen's bookkeeper, the association is relieved of responsibility for providing a horsemen's bookkeeper and shall cooperate fully with the horsemen's bookkeeper designated by the executive secretary.

(b) Revocation of designation.

  (1) A designation as the horsemen's bookkeeper continues in effect until revoked by the executive secretary.

  (2) The executive secretary may revoke a designation as the horsemen's bookkeeper if the executive secretary determines the designated entity has:

    (A) failed to comply with the Act, or the plan of operation, in a manner that indicates malfeasance as opposed to mere mistake;

    (B) failed to maintain accurate and reliable records;

    (C) misappropriated or mishandled funds in its possession or control;

    (D) failed to correct within a reasonable time any deficiency in operations identified by the executive secretary in writing; or

    (E) had its authority to act as a horsemen's bookkeeper revoked in another jurisdiction.

  (3) Before revoking a designation as horsemen's bookkeeper, the executive secretary must issue a notice of proposed revocation which specifically describes the grounds for revocation. No later than 30 days after receiving a notice of proposed revocation, the entity may file a written response to the allegations with the executive secretary.

  (4) The executive secretary may not revoke a designation without making adequate provision for a successor horsemen's bookkeeper.

(c) Operations of horsemen's bookkeeper.

  (1) Each owner engaged in racing must open and maintain an account with the horsemen's bookkeeper. The horsemen's bookkeeper may permit other individuals to open and maintain an account with the horsemen's bookkeeper, subject to the approval of the executive secretary. The aggregate of all such accounts is the horsemen's account.

  (2) The horsemen's bookkeeper shall keep accurate records of the horsemen's account and the constituent accounts. The horsemen's bookkeeper shall:

    (A) promptly credit each account with all earnings, awards, and deposits;

    (B) deduct or disburse all payments as directed by the owner or authorized agent;

    (C) render periodic statements of each constituent account; and

    (D) perform all other duties and functions as may be required by the Act or the Rules.

(d) Audit. The executive secretary may at any time inspect, review or audit the records and performance of the horsemen's bookkeeper.

Source Note: The provisions of this §313.61 adopted to be effective June 15, 1998, 23 TexReg 5962; amended to be effective October 30, 2000, 25 TexReg 10733

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