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<regulation prefix="Regulation" num=".14" citation="COMAR 09.10.06.14" title_num="09" subtitle_num="10" chapter_num="06" heading="Owners.">
  <paragraph num="A.">
    <text>If the applicant is an unincorporated business association, the application documents shall identify:</text>
    <paragraph num="(1)">
      <text>Each person who exercises voting rights in the applicant; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Each person who directly or indirectly owns 2 percent or more of the business association.</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>If the applicant is authorized to issue capital stock, the applicant shall state, for each class of stock authorized, the:</text>
    <paragraph num="(1)">
      <text>Total number of shares;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Par value, if any;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Voting rights;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Current rate of dividend; and</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Number of shares outstanding and the market value of each share.</text>
    </paragraph>
  </paragraph>
  <paragraph num="C.">
    <text>If the applicant is a corporation, the application documents shall identify each person who:</text>
    <paragraph num="(1)">
      <text>Exercises voting rights in the corporation; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Directly or indirectly owns 2 percent or more of the corporation.</text>
    </paragraph>
  </paragraph>
  <paragraph num="D.">
    <text>The application documents shall include a certified copy of each voting trust or voting agreement in which capital stock of the applicant is held and shall state the:</text>
    <paragraph num="(1)">
      <text>Name and address of each stockholder participating in the trust or agreement;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Class of stock involved; and</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Total number of shares held by the trust or agreement.</text>
    </paragraph>
  </paragraph>
  <paragraph num="E.">
    <text>The application documents shall describe the terms of any proxy by which any capital stock may be voted and shall state the:</text>
    <paragraph num="(1)">
      <text>Name and address of the person holding the proxy;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Name and address of the stockholder who granted the proxy;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Class of stock for which the proxy may vote; and</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Total number of shares voted by the proxy.</text>
    </paragraph>
  </paragraph>
  <paragraph num="F.">
    <text>The application documents shall state any provisions, and the procedures by which these provisions may be modified, for the redemption, repurchase, retirement, conversion, or exchange of an ownership interest.</text>
  </paragraph>
  <paragraph num="G.">
    <text>The application documents shall state whether the applicant's stock may be traded through options and whether the corporation or a stockholder has executed an agreement or contract to convey any of the corporation's or the stockholder's stock at a future date.</text>
  </paragraph>
  <paragraph num="H.">
    <text>The application documents shall include a copy or a description of each agreement or contract disclosed under §G of this regulation.</text>
  </paragraph>
  <paragraph num="I.">
    <text>The application documents shall include a copy of each prospectus, pro forma, or other promotional material given to potential investors about the proposed racetrack.</text>
  </paragraph>
  <paragraph num="J.">
    <text>The application documents shall provide full disclosure for any stock options that may exist or have been granted.</text>
  </paragraph>
</regulation>