1.  The Commission may issue licenses for the holding of:

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(a) Trotting and pacing meetings;

(b) Chariot races; and

(c) Cutter races, at which pari-mutuel wagering will be conducted.

2.  The Board and the Commission have supervisory powers over such meetings and races and those licensed in the same manner and to the same extent, where not inappropriate, as they have by virtue of the provisions of this chapter over those licensed under other provisions of this chapter. Every applicant must pay a license fee of not less than $25 nor more than $200 for each day that races are held.