Section 401. General powers of state racing and wagering board

1.  Pursuant
  to  the  provisions  of  sections  two  hundred twenty-two through seven
  hundred five of this chapter, the state racing and wagering board  shall
  have  power  to  supervise  generally all quarter horse race meetings in
  this state at which pari-mutuel betting  is  conducted.  The  board  may
  adopt  rules  and regulations not inconsistent with sections two hundred
  twenty-two through seven hundred five of  this  chapter  to  carry  into
  effect  its  purposes  and  provisions  and  to prevent circumvention or
  evasion thereof. In order that the rules of quarter horse racing may  be
  uniform  throughout the United States, the board may adopt the rules and
  regulations of the American Quarter Horse Association, in  whole  or  in
  part,  and may adopt such other or different rules as it deems necessary
  to carry into effect the purposes and provisions of sections two hundred
  twenty-two through seven hundred five of this chapter.
    2. Without limiting the generality of the foregoing, and  in  addition
  to its other powers:
    a. The state racing and wagering board shall have power to fix minimum
  and  maximum  charges  for  admission  to quarter horse race meetings at
  which pari-mutuel betting is conducted provided, however, that the state
  racing and wagering board  shall  have  power  to  fix  the  charge  for
  admission of members of the armed forces of the United States in uniform
  at  one-half  of  the  amount  fixed  for such admission generally under
  authority of this section.
    b. The state racing and  wagering  board  shall  prescribe  rules  and
  regulations  for effectually preventing the use of improper devices, the
  administration of drugs or stimulants or other  improper  acts  for  the
  purpose  of  affecting  the speed of quarter horses in any race in which
  they are about to participate.
    c. The rules  of  the  board  shall  also  provide  that  all  winning
  pari-mutuel  tickets must be presented for payment before April first of
  the year following the year of their purchase and failure to present any
  such ticket within the prescribed period  of  time  shall  constitute  a
  waiver of the right to participate in the award or dividend.
    d.  The  board shall have power in its discretion, consistent with the
  powers of the state tax commission,  to  prescribe  uniform  methods  of
  keeping  accounts,  records  and books to be observed by associations or
  corporations licensed under the provisions of this  article  or  by  any
  association  or  corporation  which  owns  stock  in,  or  shares in the
  profits, or participates in the management or affairs of, such  licensed
  association  or  corporation,  or  by  any  person, firm, association or
  corporation holding any concession, right or privilege  to  perform  any
  service  or  sell  any article at any track at which pari-mutuel quarter
  horse racing meets are conducted. The board may also in its  discretion,
  consistent  with  the  powers  of the state tax commission, prescribe by
  order forms of accounts, records  and  memoranda  to  be  kept  by  such
  persons, firms, associations or corporations. The board shall have power
  to  visit,  investigate,  and  place  expert  accountants, or such other
  persons as it may deem necessary, in the offices, tracks or other places
  of business of any such person, firm, association or corporation for the
  purpose of seeing that the provisions of sections two hundred twenty-two
  through seven hundred five of this chapter  and  rules  and  regulations
  issued by the board thereunder are strictly complied with. Such persons,
  firms,  associations or corporations shall annually file with the board,
  on such date as the  board  shall  prescribe,  a  report  showing  their
  financial  condition  and financial transactions during the fiscal year,
  including a balance sheet and a profit and loss statement,  verified  by
  the  oath  of  at  least  two  of  its  principal  officers, if it be an
  association or corporation having officers, and by one or  more  of  the

  owners  or proprietors thereof if not an association or corporation. The
  report shall be in such form and contain such other matters as the board
  may determine from time to time to be necessary to  disclose  accurately
  the   financial   condition   and  operation  of  such  persons,  firms,
  associations or corporations during the preceding fiscal year. The board
  may for good cause shown grant a reasonable extension of  time  for  the
  filing of any such report.