§ 251. Definitions. As used in sections two hundred fifty-two through two hundred fifty-six of this article, the following terms shall mean and include:

1. "Fund." The New York state thoroughbred breeding and development fund corporation established by section two hundred fifty-two of this article.

2. "Board." The board of directors of the corporation as such board is constituted pursuant to section two hundred fifty-two of this article.

3. "New York-bred." A thoroughbred which is registered in the registry designated and administered by such fund in accordance with such rules concerning domicile and registration requirements as may be established by the fund and: was on or before December thirty-first, nineteen hundred eighty, foaled in this state; or is on or after January first, nineteen hundred eighty-one, either: (i) sired by a New York stallion and foaled from a mare domiciled in this state; (ii) foaled from a mare domiciled in this state which mare has been serviced back exclusively by a New York stallion in the year of such foaling; or (iii) on or after January first, nineteen hundred ninety-five foaled from a mare domiciled in New York. The fund shall report to the governor and the legislature on or before December fifteenth, nineteen hundred ninety-nine effects of paragraph (iii) of this subdivision on the New York state breeding industry.

4. "Breeder." The owner of the mare at the time the mare foals a New York-bred.

5. "New York stallion." A stallion standing in New York at the time he was bred to the dam of a New York-bred; a stallion must be registered with the fund or its designated agent and must be (i) owned by a resident of this state and standing the entire stud season in this state; or (ii) owned by a resident of another state but standing the entire stud season in this state and leased by a resident of this state for a term of not less than one year; or (iii) owned jointly by a resident of this state together with a resident of another state and standing the entire stud season in this state and leased by a resident of this state for a term of not less than one year. Leases shall be filed with the fund or its designated agent.

6. "Stallion owner." The owner of a stallion standing in New York at the time he was bred to the dam of a New York-bred.

7. "Races." Races upon which pari-mutuel wagering is conducted at thoroughbred race meetings of racing corporations as authorized by the state racing and wagering board.