Section 185.18. Stock certificates

Each certificate of stock issued by any association, firm or corporation participating in the management of any association, and all other corporations licensed by the Commission shall have noted on the face of such stock certificate that the person whose name is indicated as the owner of the shares of stock represented by such certificate is the sole and absolute owner thereof and that he is not holding the shares of stock or any portion of the shares of stock represented by said certificate in trust for any person, partnership, firm or corporation whatsoever who or which is prohibited by this act from owning such shares of stock. If any of the shares of stock represented by a certificate of stock are held subject to the terms of either an inter vivos or testamentary trust for the benefit of any person who could lawfully own such stock in his own name such fact shall be so noted on the face of the certificate and a copy of the instrument which created the trust shall be attached thereto. A duplicate copy of the instrument which created the trust shall be filed by the licensee with the Commission. Every certificate of stock of any licensee as defined in this chapter must also bear the legend plainly and prominently imprinted on the face of the certificate: ‘‘This certificate of stock is transferable subject to the provisions of the Harness Racing Law and the Rules and Regulations promulgated thereunder.’’