SECTION 321.453. Formation Of Common Pool

(a) An association shall transmit wagering data through a method authorized by this subsection, in the following order of preference:

(1) via a data circuit or frame relay;

(2) via facsimile; or

(3) by voice.

(b) Except as otherwise provided by this subsection, the odds and prices for a common pool shall be calculated in accordance with the laws and rules of the jurisdiction in which the host racetrack is located. In determining the amount distributable to the wagerers, the total takeout required in the jurisdiction in which the host racetrack is located shall be used. If the association desires, the association may use the net pool pricing method for determining the payoff prices.

(c) An association shall ensure that the necessary records are maintained regarding the amounts wagered at its racetrack for accounting, auditing, and reporting purposes.

Source Note: The provisions of this §321.453 adopted to be effective April 1, 2001, 26 TexReg 2161