Legislation has been re-adopted relating to mixed martial arts promoters in Indiana State. The Indiana Gaming Commission has implemented rules under the name SB 160 (2009), which allowed the Commission to regulate the mixed martial arts matches. SB 160 requires match promoters to acquire a surety bond of at least $10,000. The law that’s already in place allows the Commission to require bonds for boxing and sparring match promoters. The rules also permit the Commission to ask the promoter to supply a supplementary surety bond for separate events which must be in a quantity equivalent to an estimate of the total ticket tax for the event. The surety’s aggregate yearly liability can’t surpass the amount of the surety bond.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.