New Jersey § 5:5-201
Full text of New Jersey New Jersey Statutes § 5:5-201, with citation guidance and answers to common questions.
§ 5:5-201.
Notwithstanding any other law, rule, or regulation to the contrary, the division shall
require each fixed odds wagering licensee to: a. pay such portions of the fixed odds wagering licensee's fixed odds revenues as
may be required pursuant to section 4 of this act, P.L.2021, c. 193 ( C.5:5-193 ); b. pay to overnight purses to standardbred and thoroughbred permit holders for wagering
on races for the permit holder's respective breed in this State 50 percent of fixed
odds revenues retained by the fixed odds wagering licensee after the payments required
pursuant to subsection a. of this section are made, and after deducting all reasonable
and necessary expenses incurred by the licensee in administering, marketing, and operating
the fixed odds wagering system; and c. reach a business agreement with all standardbred and thoroughbred permit holders
within this State as it pertains to wagering on the permit holder's respective breed,
within one year from the date when the fixed odds wagering system becomes operational,
for the distribution of the net fixed odds wagering revenues remaining after the payments
are made pursuant to subsections a. and b. of this section and after the payment of
operating expenses, subject to approval by the division; provided that, if an agreement
is not reached within that time frame, the division shall distribute the fixed odds
wagering revenues among the fixed odds wagering licensees and the standardbred and
thoroughbred permit holders in this State based on wagering on the permit holder's
respective breed.
Frequently Asked Questions About New Jersey § 5:5-201
What does New Jersey Statutes § 5:5-201 cover?
Section 5:5-201 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 § 5:5-201?
A common citation format is "New Jersey Statutes § 5:5-201" (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 § 5:5-201 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.