(a) The commission by rule shall require that each racetrack association that holds a license for a class 1 racetrack, class 2 racetrack, or greyhound racetrack annually file with the commission a detailed financial statement that:
(1) contains the names and addresses of all stockholders, members, and owners of any interest in the racetrack;
(2) indicates compliance during the filing period with Section 2025.101; and
(3) includes any other information required by the commission.
(b) Each transaction that involves an acquisition or a transfer of a pecuniary interest in the racetrack association must receive prior approval from the commission. A transaction that changes the ownership of the racetrack association requires submission of updated information of the type required to be disclosed under Section 2025.052 and payment of a fee to recover the costs of the criminal background check.
Official text of the Texas Occupations Code as published by the Texas Legislative Council.