Except as provided in subdivision (b) of Section 19612, the exempt amount retained by the association shall be regularly deposited in a separate account with a depository approved by the board. The funds deposited shall be distributed as purses.
Cal. Bus. & Prof. Code § 19491.6
Licenses for Track Operators
Known as the Horse Racing Law
The act spans §§ 19400–19668 (334 sections).
Amended by Stats. 1980, Ch. 1043, Sec. 9.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.