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RULE §309.164 Accounting Practices

Published: 2015

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(a) An association shall maintain an accounting system under the supervision of a certified public accountant. (b) An association shall ensure that all purse money and nomination race money is distributed in accordance with the Act, the rules of the Commission, the association's rules, and the conditions for the race for which the money is payable. (c) The Commission may review and conduct audits of all systems maintained under this section.

Source Note: The provisions of this §309.164 adopted to be effective October 21, 1999, 24 TexReg 8968; amended to be effective September 27, 2005, 30 TexReg 6051