New Mexico § 60-1A-9 - Secondary licenses; applications; specific requirements
Full text of New Mexico New Mexico Statutes Annotated § 60-1A-9 — Secondary licenses; applications; specific requirements, with citation guidance and answers to common questions.
§ 60-1A-9. Secondary licenses; applications; specific requirements
A. A person who is actively and directly engaged in the administration of a horse
racetrack, whether in a financial, administrative, policymaking or supervisory capacity,
shall hold a secondary license issued by the commission. B. An application for a secondary license shall be submitted in writing on forms designated
by the commission. An applicant shall affirm that information contained in the application is true
and accurate. The application shall be signed by the applicant or the applicant's agent, and the
signature shall be notarized. C. If an applicant for a racetrack license is a corporation, all officers, directors,
lenders or holders of evidence of indebtedness of the corporation and all persons
who participate in any manner in a financial, administrative, policymaking or supervisory
capacity are required to hold a secondary license issued by the commission. D. A person who owns or holds, directly, indirectly or beneficially, ten percent or
more of the total authorized, issued and outstanding shares of a corporation that
is a racetrack licensee is required to hold a secondary license issued by the commission. If the commission finds that a person who owns or holds, directly, indirectly or
beneficially, ten percent or more of the total authorized, issued and outstanding
shares of a corporation that is a racetrack licensee is unqualified to be issued a
secondary license, the commission shall give notice of its finding to the corporation
and to the person owning or holding the interest. The ineligible person shall without delay offer the shares to the corporation for
purchase. If the corporation does not elect to purchase the shares, the person owning or holding
the interest may offer the interest to other purchasers, subject to prior approval
of the purchasers by the commission. E. A secondary license shall be valid for a period not to exceed three years. The commission may renew a secondary license upon expiration of the term of the
license. F. The fee for a secondary license issued pursuant to this section shall not exceed
five hundred dollars ($500).
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 60-1A-9
What does New Mexico Statutes Annotated § 60-1A-9 cover?
Section 60-1A-9 ("Secondary licenses; applications; specific requirements") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. 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 Mexico § 60-1A-9?
A common citation format is "New Mexico Statutes Annotated § 60-1A-9" (New Mexico). 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 Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 60-1A-9 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico 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 Mexico.