Section 213 - Promoter's LicenseIn order to be issued a boxing promoter's license, an applicant shall meet all the following requirements:
(a) An applicant shall demonstrate financial responsibility. For purposes of section 18665(b) of the code, "financial responsibility" means no less than $50,000 in cash or the equivalent in liquid assets, as demonstrated by the applicant's financial statement. The financial statement shall be prepared by and be on the letterhead of a certified public accountant or public accountant within sixty (60) days of the date the application is filed.(b) An applicant shall demonstrate either that the applicant possesses the necessary knowledge and experience to act as a promoter or employs a person who possesses those qualifications.(c) The bond required by section 18680 of the code, which shall be set by the commission in an amount no less than $50,000.(d) The fee specified in section 18804 of the code.(e) Evidence that the applicant is in compliance with Rule 290 regarding medical insurance.(f) The applicant shall meet the requirements for licensure as a matchmaker, or in the alternative submit evidence that the promoter employs a licensed matchmaker.(g) An application for a promoter's license shall be signed by an owner or officer of the applicant.Cal. Code Regs. Tit. 4, § 213
1. New section filed 12-17-86; effective thirtieth day thereafter (Register 86, No. 51).
2. Amendment filed 8-30-2010; operative 9-29-2010 (Register 2010, No. 36). Note: Authority: Section 18611, Business and Professions Code. Reference: Sections 18640, 18641 and 18648, Business and Professions Code.
1. New section filed 12-17-86; effective thirtieth day thereafter (Register 86, No. 51).
2. Amendment filed 8-30-2010; operative 9-29-2010 (Register 2010, No. 36).