WM. PRESTON LANE, JR., GOVERNOR. 1025

license is suspended or revoked, said Commission shall
state publicly its reason for so doing, and cause an entry
of such reasons to be made on the minute book of the
Commission, and its action shall be final, provided, how-
ever, the propriety of such action shall be subject to re-
view, upon questions of law only, by the Circuit Court of
the County within which such license was granted, or by
the Baltimore City Court, if such license shall have been
granted in Baltimore City, the action of the Commission
to stand unless and until reversed by the Court.

11 A. For the calendar year 1947 and for each
year thereafter, each licensee shall, as the agent of the
Racing Commission, deduct one-half of one per cen-
tum of the total amount of money wagered on all races
during each and every meeting and remit such
deduction to the Commission. All such deductions shall
be held in and comprise a fund to be known as the
"Racing Fund," and shall be deposited by the Commission
in one or more banks or trust companies in the State.
The members of the Commission shall have no personal
liability for loss to such Fund by reason of the failure
or insolvency or other fault of any depository if they shall
use ordinary care in the selection of the depository. The
Commission shall require any depository to secure by col-
lateral any deposit therein comprising a part or all of
the Fund.

The amount of the Racing Fund on hand at any time,
representing the deductions made by any particular li-
censee from the mutual pool, previously collected by such
licensee, as agent of the Commission, may, with the prior
written and express permission of the Commission, upon
such terms and conditions as it may prescribe, be expended
by that particular licensee for any substantial alterations,
additions, changes, improvements, or repairs to or upon
the property owned or leased by such licensee, and by it
used for the conduct of racing. In determining whether
to permit the use of any of the Racing Fund, the Commis-
sion shall give due consideration to whether its expendi-
ture in each instance will promote the safety, convenience
and comfort of the racing public and of horse owners and,
generally, whether it will tend towards the improvement
of racing in the State. If the deductions, herein provided
for, made by any licensee for any calendar year, as agent
of the Commission, shall neither have been spent nor bind-
ing commitments have been entered into for their expen-
diture, with the approval of the Commission, within three

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