|Rule No.||Rule Title|
|2082||Interest Bearing Accounts.|
|Rule Text||The first $250,000 in interest earned on California resident's Accounts shall be transferred annually, split between the corresponding horsemen's welfare fund and the backstretch pension plan for the benefit of backstretch employees. Interest in excess of $250,000 shall be transferred annually, split between the corresponding horsemen's organizations for purses as designated in Business and Professions Code Section 19613.
NOTE: Authority cited: Sections 19440, 19590 and 19604, Business and Professions Code. Reference: Section 19604 and 19613, Business and Professions Code.
1. Amendment filed 1-7-02; effective 1-7-02.