(a) A person shall not act as a promoter in this State unless he or she is registered with the Office of Professional Regulation. The application shall be made on forms provided by the Director and shall be filed at least 14 days prior to the date of the intended professional boxing match.

(b) Each application shall be accompanied by a surety or cash bond in the amount of $5,000.00, payable to the State of Vermont, together with proof of medical insurance covering the boxers for injuries sustained during the match. The bond or surety shall be conditioned upon the faithful performance by the promoter of the provisions of this chapter, the fulfillment of the promoter's contractual obligations with the boxers and participants, and subject to the payment of any fees or penalties imposed by this chapter.

(c) Each application shall contain a list of the boxers and participants, along with each boxer's personal identification number assigned by the National Boxer Registry. (Added 1999, No. 133 (Adj. Sess.), § 37, eff. Jan. 1, 2001.)