§ 17-22-304 - Bond required. - Arkansas Statutes

17-22-304. Bond required.

As a condition to the issuance of a license as provided in 17-22-302(a)(2), the person applying for the license shall file with the State Athletic Commission a cashier's check, a letter of credit, or a corporate surety bond in an amount to be established by the commission in its rules, but not less than the sum of one thousand dollars ($1,000) written by a corporate surety authorized to do business in this state, conditioned upon the licensee's payment of all taxes and other charges due the state and its political subdivisions on account of such matches or exhibitions.