Section 50. Responsibilities of SEOs accepted into the program

A. After acceptance into the program, the SEO must furnish full records of all private money distributed through its deciding events including derivations of this money (whether nomination fees or added money). The SEO must furnish complete information including the horses' names, events or divisions of events for which private money was received, date of the events, the name, complete address, and telephone number of the person receiving the private money, whether the person is the owner, or breeder or both, date of distribution of private money, documentation of person's eligibility to receive money under the requirements and guidelines of the state program, and documentation of the winning horse's eligibility for inclusion in the event.

B. The SEO must furnish an audit report prepared by a licensed CPA of the appropriate event if so required by the department.

Historical Notes

Derived from VR115-01-03 § 5, eff. February 17, 1988.

Statutory Authority

§ 3.2-106 of the Code of Virginia.