Section 421. Approval of plans of corporation or association

The state
  racing  and  wagering  board  shall  not  grant  to  a  corporation   or
  association hereafter formed pursuant to sections two hundred twenty-two
  through  seven  hundred  five  of  this  chapter, a license to conduct a
  quarter horse race meeting at which pari-mutuel betting may be conducted
  within the state  until  such  corporation  or  association  shall  have
  submitted  to  the  board  a  statement  of the location of its proposed
  grounds and racetrack, together with a plan of such racetrack, and plans
  of all buildings, seating stands and other structures in  such  form  as
  the  board  may  prescribe,  and  such plans shall have been approved in
  writing by the board. Alterations of existing buildings, seating  stands
  and  other  structures, and the erection of new or additional buildings,
  seating stands or other structures may be made  only  with  the  written
  approval  of the board and after examination and inspection of the plans
  thereof and the issuance of a permit therefor by the  state  racing  and
  wagering  board.    The  board at the expense of the applicant may order
  such engineering examination thereof as the board  may  deem  necessary.
  The  approval of the certificate of incorporation of such corporation or
  association shall not be deemed to vest in it the right to a license  to
  conduct  quarter  horse  race  meetings at such race course or racetrack
  unless  such  grounds,  track,  buildings,  seating  stands  and   other
  structures  shall  be completed in accordance with the plans approved by
  the board.