19. The board may require that a person wishing to obtain a racing licence or holding such a licence provide security where:(1) he applies for a licence for the first time;
(2) he has no trust account in which shall be deposited the purses offered and the amount paid for a claim;
(3) he has failed to pay the fees for the licence at the time provided for;
(4) he has failed to pay an amount exigible under a notice of assessment at the date provided for;
(5) he has previously held a licence and has ceased from exercising his activities during 12 consecutive months before his subsequent application.