(A) Each owner shall be entitled to register a set of racing colors without fee other than that which covers the owner's license. Such colors shall not be claimed or used by others except after three years withdrawal from the turf. In thoroughbred racing, no horse shall be allowed to race unless the owner's colors are registered with the stewards and/or Ohio state racing commission. If two conflicting applications are received, priority shall be given to applicants who have their colors registered with the "Jockey Club." An owner's colors shall not be used by a jockey to ride horses owned by other parties. Substitute colors may be permitted for one race only at a meeting. Thereafter a fine up to fifty dollars shall be imposed for each race without proper colors.
(B) Each permit holder shall provide a sufficient number of jockey caps which will be of colors which can be blended with the owner's silks; each jockey cap will have a number affixed thereon to coincide with post positions; however, an owner can substitute a cap as part of his/her colors, said cap need not have a number affixed thereto.