{"data":{"id":"us-ok/okla.-stat.-tit.-3a-3a-612","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 3A, § 3A-612","heading":"Security","body":"A. Before any sanctioning permit is issued to any promoter to\n\nconduct or hold a professional combative sports event, amateur mixed\n\nmartial arts event or amateur kickboxing event, the applicant shall\n\nfile with the Oklahoma State Athletic Commission a security in the\n\nform of a bond, cash, certificate of deposit, or other securities\n\nacceptable to the Commission, payable to the State of Oklahoma in an\n\namount determined by the Commission, executed by the applicant and a\n\nsurety company or companies authorized to do business in this state,\n\nand conditioned upon the faithful performance by the promoter, which\n\nshall include, but not be limited to, the cancellation of a\n\nprofessional combative sports event, amateur mixed martial arts\n\nevent or amateur kickboxing event without good cause as determined\n\nby the Commission once the event has been approved by the\n\nCommission.\n\nB. The security required under this section shall guarantee the\n\npayment of all taxes, fees, fines and other monies due and payable\n\npursuant to the provisions of the Oklahoma State Athletic Commission\n\nAct and the rules promulgated by the Commission, including, but not\n\nlimited to, the payment of purses to the competitors, any\n\ncontributions for required insurance, pensions, disability and\n\nmedical examinations, the repayment to ticket holders of purchased\n\ntickets, the payment of fees to ring officials and physicians, and,\n\nin the event of the cancellation of a professional combative sports\n\nevent, amateur mixed martial arts event or amateur kickboxing event\n\napproved by the Commission without good cause, an amount determined\n\nby the Commission.\n\nC. After issuance of a sanctioning permit to a promoter, the\n\nCommission may modify the amount of security required to ensure\n\nadequate and sufficient coverage for payments of taxes, fees, fines,\n\npurses, and other monies due and payable pursuant to the provisions\n\nof this section. Failure of any promoter to obtain the modified\n\nsecurity required pursuant to this subsection within such period of\n\ntime as the Commission may prescribe, shall be grounds for\n\nrevocation of the sanctioning permit of such promoter.\n\nD. All proceeds of securities collected pursuant to the\n\nprovisions of this section shall be placed to the credit of the\n\nOklahoma State Athletic Commission Revolving Fund.","path":["OK Code","Title 3A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os3A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f40c9be13e05ef8878d758b1fec7a1398eebbfc6075ae5d5d263e8093f4dfb16","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-3a-3a-611","next":"us-ok/okla.-stat.-tit.-3a-3a-613"},"notice":"GroundRules: Original legal text. Not legal advice."}