§ 246. Approval of plans of corporation. The state racing and wagering board shall not grant to a corporation hereafter formed pursuant to this chapter, a license to conduct a running or steeplechase race meeting within the state until such corporation shall have submitted to the board a statement of the location of its proposed grounds and racetrack, together with a plan of such racetrack, and plans of all buildings, seating stands and other structures, in such form as the board may prescribe, and such plans shall have been approved by the board. The board at the expense of the applicant may order such engineering examination thereof as the board may deem necessary. Alterations of buildings, seating stands or other structures, and the erection of new or additional buildings, seating stands or other structures on the grounds of any corporation heretofore or hereafter formed pursuant to this chapter may be made only with the approval of the board and after examination and inspection of the plans thereof and the issuance of a permit therefor by such board. The approval of the certificate of incorporation of such corporation shall not be deemed to vest in it the right to a license to conduct running or steeplechase race meetings at such race course or racetrack unless such grounds, track, buildings, seating stands and other structures shall be completed in accordance with the plans approved by the board.