LICENSEE or LICENSED BUSINESS: Any person licensed hereunder to conduct the business of servicing agency.
ORIGINAL RECORDS: A. All records as herein defined.
B. A daily record of all parimutuel tickets purchased pursuant to orders recorded on transaction permits (fully identifying such tickets by date, track, race, selection, predicted finishing position, amount of each such ticket).
C. A daily record summarizing by transaction permit number in numerical sequence the specific amounts owing to customers holding originals of the transaction permits, setting forth the amount due the holder of each such original transaction permit.
PERSON: Any individual, corporation, co-partnership, trust, firm, or any other business entity.
SERVICING AGENCY: Any person or any other business entity which, for a consideration, agrees with another to act as his agent or to supply him with an agent to purchase parimutuel tickets for him and to return to him either such tickets so purchased or the redemption value of the tickets so purchased.
SOURCE RECORDS: All unused transaction permits, copies of all used transaction permits, all used original transaction permits returned to a licensed business for redemption thereunder and all losing or unredeemable parimutuel tickets whose order by customers is recorded on the copies of the transaction permits relating to such orders.
TRANSACTION: Any single agreement and transfer of consideration between a servicing agency and another, whereby the servicing agency agrees to buy, and to return or redeem one or more specified parimutuel tickets for another. (Ord. 81-12, 4-20-81)
TRANSACTION PERMIT: Any serially numbered document or form issued by the Village Treasurer authorizing and permitting the licensed business to enter into the particular transaction to be recorded on that form.