(b) For each horse entered into a race that is limited to horses wholly owned by New York state residents, each owner shall provide documentation that demonstrates that such horse is wholly owned by a New York state resident. Leased horses shall not be eligible for such races unless both the lessor and lessee are New York state residents. In the case of a horse owned by a corporation, all owners, officers, shareholders, and directors shall meet the requirements of a New York state resident; in the case of a horse owned by an association, all owners shall meet the requirements of a New York state resident.
(c) If it is in the opinion of such corporation or association licensed to conduct harness race meetings at which pari-mutuel betting is permitted that sufficient competition cannot be had among such restricted class of horses, said race may be eliminated for said day and a substitute race provided instead.
(d) The commission shall be authorized to promulgate regulations to effectuate the intent of this section.
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