.27 Partnerships.

A. All partnerships shall be registered so as to set forth the name and address of every person having any interest in a horse, the relative proportions of these interests, and the terms of any sales with contingencies, lease, or arrangement. The registration shall be signed by all the parties or by their authorized agents. Each partner shall be jointly or severally liable for all arrears.

B. All statements of partnerships, of sales with contingencies or arrangements, shall declare to whom winnings are payable, in whose name the horse shall run and with whom rests the power of entry or of declaration. In cases of emergency, authority to sign declarations of partnership may be given by a telegram promptly confirmed in writing.

C. The part owner of any horse cannot assign his share or any part of it without the written consent of the other partners.