All quarter horse racing corporations or associations formed pursuant to the Quarter Horse Racing Law of the State of New York desiring to conduct a race meeting with pari-mutuel wagering thereon must obtain a license annually from the commission. All licenses shall be deemed conditioned upon compliance with the laws of the State of New York, the rules and regulations of the commission, payment of salaries, fees and taxes required by statute, payment of charges for the operation of the commission laboratory for chemical analysis of samples, and the proper installation, operation and maintenance of equipment and devices for the conduct, timing and monitoring of races which the commission shall prescribe as necessary or desirable in the public interest.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 4204.1