California § 19597.5 - A person licensed under this chapter to conduct a horse racing meeting shall hold
Full text of California Public Contract Code - PCC § 19597.5 — A person licensed under this chapter to conduct a horse racing meeting shall hold, with citation guidance and answers to common questions.
§ 19597.5. A person licensed under this chapter to conduct a horse racing meeting shall hold
A person licensed under this chapter to conduct a horse racing meeting shall hold in trust the distributions required to be made pursuant to this chapter until the funds are paid to the various distributees. These required deductions, except for those that enure to the benefit of the racing association, are trust funds and shall not be used by the racing association for any purpose other than for payment to those distributees as directed by this chapter. These funds are not the property of the racing association, but are merely held in trust for the benefit of the statutory distributees until the funds are distributed to them in accordance with this chapter. These funds shall be held in a separate depository account until they are actually distributed as provided for in this chapter.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 19597.5
What does Public Contract Code - PCC § 19597.5 cover?
Section 19597.5 ("A person licensed under this chapter to conduct a horse racing meeting shall hold") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 19597.5?
A common citation format is "Public Contract Code - PCC § 19597.5" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 19597.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.