5:5-67.1 - Uniform method of keeping accounts and records;Ā audit annually;Ā Ā revocation of permit
5:5-67.1.Ā Uniform method of keeping accounts and records;Ā audit annually; revocation of permit
The State Commissioner of Taxation and Finance shall prescribe a uniform method by which permit holders engaged in the business of conducting horse raceĀ meetings shall be required to maintain complete and detailed financial accountsĀ and records relating to the operations of their tracks, and it shall be theĀ duty of each permit holder to comply therewith.
The State Commissioner of Taxation and Finance shall also annually cause toĀ be made by some competent person or persons in his department a thorough auditĀ of the books and records of each permit holder, which audit shall be kept onĀ file in his office at all times, and a copy of which shall be forwarded to theĀ commission immediately upon the completion thereof;Ā and each permit holderĀ shall permit access to its books and records for the purpose of having suchĀ audit made, and shall produce, upon written order of the head of saidĀ department, any and all papers and information required for such purpose.
The commission may, after hearing, revoke the permit of any permit holder failing to comply with the provisions of this section, and every such failure shall be reported to the commission by the State Commissioner of Taxation and Finance.
L.1947, c. 107, p. 536, s. 3, eff. May 6, 1947.
Ā
The State Commissioner of Taxation and Finance shall prescribe a uniform method by which permit holders engaged in the business of conducting horse raceĀ meetings shall be required to maintain complete and detailed financial accountsĀ and records relating to the operations of their tracks, and it shall be theĀ duty of each permit holder to comply therewith.
The State Commissioner of Taxation and Finance shall also annually cause toĀ be made by some competent person or persons in his department a thorough auditĀ of the books and records of each permit holder, which audit shall be kept onĀ file in his office at all times, and a copy of which shall be forwarded to theĀ commission immediately upon the completion thereof;Ā and each permit holderĀ shall permit access to its books and records for the purpose of having suchĀ audit made, and shall produce, upon written order of the head of saidĀ department, any and all papers and information required for such purpose.
The commission may, after hearing, revoke the permit of any permit holder failing to comply with the provisions of this section, and every such failure shall be reported to the commission by the State Commissioner of Taxation and Finance.
L.1947, c. 107, p. 536, s. 3, eff. May 6, 1947.
Ā