HERBERT R. O'CONOR, GOVERNOR. 1661

Every person, firm, association or corporation licensed to
hold racing meetings in the State of Maryland under the
provisions of Section 8 of this Article, shall in addition to
the other taxes and fees imposed under the provisions of
said Article, pay annually to the Maryland State Fair Board
the sum of Four Thousand Dollars ($4, 000. 00), and to the
Maryland Horse Breeders' Association the sum of Two
Thousand Dollars ($2, 000. 00).

SEC. 2. And be it further enacted, That a new Section
be, and it is hereby added to Article 78B of the Annotated
Code of Maryland (1939 Ed. ), title ''Racing Commission",
to follow immediately after Section 11 of said Article, and
to be known as Section 11 A, said new Section to read as
follows:

11 A. The Racing Commission shall require any licensee,
as its agent, to deduct from the mutuel pool such percen-
tage thereof as it may order from time to time, not ex-
ceeding one per centum, and to remit such deduction so
made to the Commission, to be held and disposed of by it
as hereinafter provided. 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 collateral 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
licensee from the mutuel 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 expend-
ed by that particular licensee for any substantial altera-
tions, 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
Commission shall give due consideration to whether its
expenditure in each instance will promote the safety, con-
venience 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