Maryland Statutes
Part II - Mile Thoroughbred Racing
Section 11-515.1 - Amount of Takeout

(a)    Notwithstanding § 11-515 of this subtitle, the amount of the takeout relating to purses, the Maryland-Bred Race Fund, and the amount retained by the licensee may be allocated in accordance with the terms of a written agreement signed by the authorized representatives of:
        (1)    the licensee;
        (2)    the group that represents a majority of the owners and trainers licensed in the State at the time the agreement is signed; and
        (3)    the group that represents a majority of the breeders in the State at the time the agreement is signed.
    (b)    Nothing in this section may be construed to permit the licensee to in any way alter the mandatory takeout allocated to the Commission for the State tax.

Structure Maryland Statutes