Section 1303.70  Financial Responsibility

a)         A creditor who alleges an unpaid obligation or default in obligation directly relating to horse racing (e.g., hay vendors, tack shops and veterinarians) may submit to the Board a court judgment describing the same. The stewards shall notify the licensee that a judgment has been filed with the Board and he/she shall have 30 days to satisfy said judgment.

b)         In the event the licensee appeals the court judgment within 30 days, the stewards shall not take any action against the licensee.  If after the 30 days the judgment remains unsatisfied and no further court action has been initiated, the stewards shall have the power to suspend the licenses or deny the pending license application.

c)         The creditor shall file a Release (or Satisfaction) of Judgment with the stewards when the obligation has been satisfied.  Failure on the part of the creditor to file the Satisfaction of Judgment shall result in a civil penalty, not to exceed $500.00.

(Source:  Amended at 17 Ill. Reg. 12437, effective July 15, 1993)