(1) No horse in which any member of the State Racing Commission or its employees has any interest shall be raced at any meet under the jurisdiction of the commission.
(2) No member of the State Racing Commission or its employees shall have a pecuniary interest or engage in any private employment in a profession or business which is regulated by or interferes or conflicts with the performance or proper discharge of the duties of the commission.
(3) No member of the State Racing Commission or its employees shall wager or cause a wager to be placed on the outcome of any race at a race meeting which is under the jurisdiction and supervision of the commission.
(4) No member of the State Racing Commission or its employees shall have a pecuniary interest or engage in any private employment in a business which does business with any racing association licensed by the commission or in any business issued a concession operator license by the commission.
(5) Any commission member or employee violating this section shall forfeit his or her office.
(6) The commission shall include in its rules and regulations prohibitions against actual or potential specific conflicts of interest on the part of racing officials and other individuals licensed by the commission.