18 Va. Admin. Code § 120-40-120
Each applicant for a license as a promoter shall submit a completed application as described in 18VAC120-40-70, a statement that the applicant possesses knowledge of this chapter, and the following certification:
"I understand that I am not entitled to compensation in connection with a boxing or martial arts match, including gate fees, until I provide the department with a copy of any agreement in writing to which I and any boxer or martial artist participating in the match are parties; a statement made under penalty of perjury that there are no other agreements; a statement of fees, charges, and expenses that will be assessed by or through me on the boxer or martial artist, including any portion of the boxer's or martial artist's purse that I receive and training expenses; all payments, gifts, or benefits I am providing to any sanctioning organization affiliated with the event; and any reduction in the boxer's or martial artist's purse contract to a previous agreement between myself and the boxer or martial artist. Further, I understand that I am not entitled to compensation in connection with a boxing or martial artist match until I provide the boxer or martial artist I promote with the amounts of any compensation or consideration that I have contracted to receive from such match; all fees, charges, and expenses that will be assessed by or through me on the boxer or martial artist pertaining to the event, including any portion of the boxer's or martial artist's purse that I will receive and training expenses; and any reduction in a boxer's or martial artist's purse contract to a previous agreement between myself and the boxer or martial artist."
The department shall approve and issue all licenses in accordance with the standards established by the federal Professional Boxing Safety Act of 1996 ( 15 USC § 6301 et seq.), as amended.
18 Va. Admin. Code § 120-40-120
Statutory Authority: § 54.1-831 of the Code of Virginia.