N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 210

§ 210. Franchise termination. Upon receiving notification, in\naccordance with the provisions of section two hundred ten-a of this\narticle, from any franchised corporation that it intends to relinquish\nsuch franchise prior to the expiration date of such franchise, or that\nsuch franchised corporation intends to end its corporate existence prior\nto such expiration date, or upon the revocation of such franchise or\nexclusive right to operate and maintain such franchise, the franchise\noversight board shall take such action as is necessary to assure the\ncontinuation of the racing and pari-mutuel activities at the racing\nfacilities operated pursuant to the franchise agreement.\n