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It is the purpose of this Chapter to effectuate the policies set forth in La. Rev. Stat. 4:141 by providing for:

(1)  A program to permit maximum development of the business of horse racing with pari-mutuel wagering thereon.

(2)  A program to permit maximum development of the breeding and ownership of race horses in this state.

(3)  A program of effective regulation of the business of horse racing and to promote the orderly conduct of horse racing.

(4)  A program to authorize and establish procedures for assumption and performance of certain regulating responsibilities in connection with and the licensing, by conferring such privilege to persons, corporations or associations possessed of the personal, professional and business qualifications specified in this Chapter and for the withdrawing of such privileges.

Acts 1968, No. 554, §1.