No individual shall be a member of the Commission if the individual or a member of the family of the individual has a financial interest in any organization licensee and no individual other than an individual required by the provisions of Section 201 of this title to be experienced in the horse industry shall be a member of the Commission if the individual or a member of the family of the individual has a financial interest in any business entity which does business with any organization licensee or owns an interest in any racehorse which participates in any race meeting supervised by the Commission.

State Question No. 553, Initiative Petition No. 315, adopted at election held September 21, 1982. Laws 1983, c. 11, § 4, emerg. eff. March 22, 1983; Amended by Laws 2005, SB 738, c. 217, § 2, emerg. eff. May 24, 2005 (superseded document available ).