(i) has been convicted of a crime involving moral turpitude;

(ii) has engaged in bookmaking or other forms of illegal gambling;

(iii) has been found guilty of any fraud or misrepresentation in connection with racing or breeding;

(iv) has been guilty of any violation or attempt to violate any law, rule or regulation of any racing jurisdiction for which suspension from racing might be imposed in such jurisdiction;

(v) has violated any rule, regulation or order of the board; or b. the experience, character or general fitness of any officer, director or stockholder of any of the aforesaid associations or corporations is such that the participation of such person in quarter horse racing or related activities would be inconsistent with the public interest, convenience or necessity or with the best interests of racing generally; but if the board determines that the interest of any stockholder referred to in this paragraph or in paragraph a of this subdivision is insufficient in the opinion of the board to affect adversely the conduct of pari-mutuel quarter horse racing by such association or corporation in accordance with the provisions of this article, the board may disregard such interest in determining whether or not to grant a license to such association or corporation; or c. the applicant is not the owner of the track at which it will conduct pari-mutuel quarter horse racing pursuant to the license applied for, or that any person, firm, association or corporation other than the applicant shares, or will share, in the profits of the applicant, other than by dividends as a stockholder, or participates or will participate in the management of the affairs of the applicant. 6. The board shall also have power to refuse to grant a license: a. to any association or corporation, the charter or certificate of incorporation of which shall fail to contain a provision requiring any stockholder, upon written demand of the association or corporation, to sell his stock to the association or corporation at a price to be fixed in the manner provided in article five of the business corporation law, provided such demand be made pursuant to written direction of the board; and from and after the date of the making of such demand, prohibiting the transfer of such certificate of stock, except to the association or corporation; or b. to any association or corporation which, having been a licensee, has failed in the opinion of the board to properly maintain its track and plant in good condition or has failed to make adequate provision for rehabilitation and capital improvements to its track and plant. 7. Pending final determination of any question under this section, the board may issue a temporary license upon such terms and conditions as it may deem necessary, desirable or proper to effectuate the provisions of sections two hundred twenty-two through seven hundred five of this chapter. 8. Notwithstanding any other provision of this article, the state racing and wagering board may grant a license to any authorized quarter horse racing association or corporation to hold and conduct one additional quarter horse race meeting of not more than one racing week's duration, with pari-mutuel betting, on any quarter mile track within this state. 9. The board shall have power to direct that every certificate of stock of any association or corporation licensed under the provisions of sections two hundred twenty-two through seven hundred five of this chapter shall bear a legend plainly and prominently imprinted upon the face of the certificate reading: "This certificate of stock is transferable only subject to the provisions of section four hundred three of the racing, pari-mutuel wagering and breeding law".