New Jersey § 5:5-150
Full text of New Jersey New Jersey Statutes § 5:5-150, with citation guidance and answers to common questions.
§ 5:5-150.
a. Except as provided in subsection b. of this section, the commission shall not permit
an out-of-State sending track or an out-of-State host track to participate in off-track
simulcasting or qualify as an out-of-State host track, respectively, unless the parimutuel
pools respecting the off-track wagering facility or the account wagering system shall
be combined with comparable parimutuel pools at the out-of-State track. The types of wagering, takeout, distribution of winnings, rules of racing, method
of calculating breakage, and the percentage of deposits remaining undistributed from
a parimutuel pool after payment is made to winning ticket holders shall be determined
in accordance with the law or policy applicable to the out-of-State track. b. With the prior approval of the commission and the concurrence of the out-of-State
track, an off-track wagering licensee or the account wagering licensee, and receiving
tracks or entities in other states other than the state in which the out-of-State
track is located may form an interstate common pool. With respect to such interstate common pools, the commission may approve types of
wagering, takeout, distribution of winnings, rules of racing, method of calculating
breakage, and a percentage of deposits remaining undistributed from a parimutuel pool
after payment is made to winning ticket holders which are different from those which
would otherwise be applied in this State but which are consistent for all parties
to the interstate common pool.
Frequently Asked Questions About New Jersey § 5:5-150
What does New Jersey Statutes § 5:5-150 cover?
Section 5:5-150 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 5:5-150?
A common citation format is "New Jersey Statutes § 5:5-150" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 5:5-150 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.