Nevada § 467.080 - License for contest or exhibition; application for license; fee; limited, restricted or conditional license; bond; Athletic Commission's Agency Account; additional deposit; exceptions

§ 467.080. License for contest or exhibition; application for license; fee; limited, restricted or conditional license; bond; Athletic Commission's Agency Account; additional deposit; exceptions

1. The Commission may issue and revoke licenses to conduct, hold or give contests

or exhibitions of unarmed combat in accordance with such terms and provisions as the

Commission prescribes. 2. Any application for such a license must be in writing and correctly show and define

the applicant. The application must be accompanied by an annual fee to be fixed by the Commission

on a uniform scale. 3. The Commission may deny an application for such a license or grant a limited, restricted

or conditional license for any cause deemed sufficient by the Commission. 4. Before any license is granted, the applicant must file a bond in an amount fixed

by the Commission but not less than $10,000, executed by the applicant as principal,

and by a corporation qualified under the laws of this state as surety, payable to

the State of Nevada, and conditioned upon the faithful performance by the applicant

of the provisions of this chapter. All money which the Commission receives pursuant to this subsection must be deposited

with the State Treasurer for credit to the Athletic Commission's Agency Account, which

is hereby created in the State Agency Fund for Bonds. 5. If the Commission believes the requirement for a bond is inadequate, the Commission

may require the promoter to make a deposit of money in an amount fixed by the Commission. The deposit must be made not less than 5 days before the contest or exhibition. It may be used to satisfy any obligation incurred by the promoter during the staging

of the contest or exhibition upon order of the Commission. After satisfaction of all such obligations, the Commission shall release the remainder

to the promoter. 6. The provisions of subsections 4 and 5 do not apply to amateur athletic clubs.