Section 432.40  Application from Corporation

A corporation applicant for a license as a totalizator system licensee shall disclose the names and business addresses of its directors, officers, and the owners of any legal or beneficial interest of five percent of more of the corporation.  If the corporation is owned, in whole or in part, by another corporation, such disclosure shall be made for such other corporation and for the owners of 25% or more of the equity of such other corporation.