§ 436a.4. Responsibilities of horsemen’s organizations, representatives and fiduciaries.
(a) Horsemen’s organizations, representatives and fiduciaries shall ensure that the funds allocated to the horsemen and horsemen’s organizations are used for the benefit of all horsemen of this Commonwealth.
(b) Funds allocated to horsemen’s organizations for benevolent programs must be kept separate and apart from funds acquired from other sources and may not be used for the personal benefit of any representative or fiduciary of a horsemen’s organization except to the extent that the representative or fiduciary is a participant in the benevolent programs on the same basis as other eligible program participants.
(c) Horsemen’s organizations shall ensure that the funds allocated for thoroughbred jockeys and standardbred drivers are paid in accordance with section 1406(a) of the act (relating to distributions from Pennsylvania Race Horse Development Fund) and that the distribution of these proceeds is reflected in the annual audit required under section 1406(e) of the act and Article XVII-O of The Fiscal Code (72 P. S. § 1701-O).
(d) Horsemen’s organizations shall maintain adequate records of receipts and distributions of the funds allocated to them under the act.
(e) Horsemen’s organizations shall file with the Board:
(1) A quarterly report, due by the 20th day of the month following the end of each calendar quarter, which shall account for:
(i) The amounts received from the Pennsylvania Race Horse Development Fund through the Category 1 licensee conducting live racing into the account established by and for the benefit of the horsemen under section 1406(a) of the act.
(ii) The amounts distributed for purse supplements from the account established by and for the benefit of the horsemen under section 1406(a) of the act.
(iii) The amounts received for health and pension benefits under section 1406(a) of the act.
(2) Two copies of the audited financial statements of the horsemen’s organization and its affiliates, which comply with the requirements of section 1406(e) of the act and Article XVII-O of The Fiscal Code. Audited financial statements shall be filed within 90 days after the end of the organization’s fiscal year and reflect funds received from the Pennsylvania Race Horse Development Fund which are used or intended to be used for purse supplements and health and pension benefits under section 1406(a) of the act. These filings will be available for public inspection during the normal operating hours of the Board at its Harrisburg office.
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