Section 11-319 - Administration of pension funds.
§ 11-319. Administration of pension funds.
(a) Maryland Backstretch Employees Pension Fund.- The Maryland Backstretch Employees Pension Fund shall be administered by the organization that represents a majority of the owners and trainers who race thoroughbred horses in the State.
(b) Maryland Race Track Employees Pension Fund.- The Maryland Race Track Employees Pension Fund shall be administered by representatives of:
(1) each mile thoroughbred racing licensee;
(2) the Maryland State Fair and Agricultural Society, Inc.; and
(3) the employees of the licensees and of the Maryland State Fair and Agricultural Society, Inc.
(c) Maryland Harness Track Employees Pension Fund.- The Maryland Harness Track Employees Pension Fund shall be administered by representatives of each harness racing licensee and its employees.
[An. Code 1957, art. 78B, §§ 11, 16, 17; 1992, ch. 4, § 2.]