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Michigan bonds

Michigan — Boxing Event Bond

Before Michigan approves a regulated boxing event, the promoter must provide an event bond in the amount fixed by the Department. Current law sets a $20,000 to $50,000 range. Obtain the Department's required sum and identify the particular event before beginning this application.

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Recorded state
Michigan
Bond type
Boxing / MMA Promoter Bond
Category
Entertainment, sports & recreation

What this bond does

The bond is payable to the State of Michigan and secures faithful distribution of money owed by the promoter as a result of the event. It benefits people damaged by nonpayment of event liabilities and allows an affected person to bring an action on the bond.

Who needs it
A promoter arranging a Michigan boxing event subject to the Unarmed Combat Regulatory Act. The event-security requirement is separate from the promoter's annual license and does not determine whether a particular contest is exempt.
Who it protects
This is security for event-payment obligations, not liability insurance or the fighters' medical coverage. It must meet the Department's conditions before event approval. Buying a bond or holding an annual promoter license does not itself approve the show.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Details of Michigan's event-payment security

MCL 338.3633 requires the promoter as principal, a qualified corporate surety, the State as payee, and a Department-fixed amount between $20,000 and $50,000. The statute requires purchase at least five days before the contest. Submit the actual event request rather than choosing a sum from another promoter's application.

The protection is not limited to a tax or purse obligation. The statutory condition concerns all money the promoter owes as a result of the event and gives an affected person a right of action. Confirm that the instrument supplied meets that condition and identifies the correct promoter and event.

The bond remains effective until properly filed nonpayment complaints are fully adjudicated. The statute says a complaint is not properly filed unless filed with the Department within thirty business days after the covered event. That filing window is not a thirty-day bond cancellation clause. Annual promoter licenses expire August 31; that licensing date does not replace the event bond's complaint provisions.

Sources

Have these ready

  1. Get the Department's required amount and accepted event-bond wording.
  2. Provide the promoter's legal name, address, license details, event date and location.
  3. Allow for the statutory purchase requirement at least five days before the contest and the Department's separate submission instructions.
  4. Review the State payee, event-payment condition, surety execution and complaint provisions before filing.
  5. Keep event approval, contestant contracts, insurance and participant licensing separate from the bond application.

Questions about this bond

Who chooses the amount within the $20,000–$50,000 range?

The Department fixes the amount under MCL 338.3633. Obtain its actual request; the quoted range is not permission to choose the lowest sum.

Does this only secure fighter purses?

The statutory condition is broader: faithful distribution of all money owed by the promoter as a result of the event. People damaged by nonpayment of associated liabilities may bring an action on the bond.

Does the bond end thirty days after the show?

Do not assume that. The law uses thirty business days for properly filing a nonpayment complaint with the Department, and the bond remains effective until properly filed complaints are fully adjudicated.

How do I apply?

Purchase Now opens Propeller's application for this Michigan boxing event offering in a new tab. Match the Department's amount, State payee, promoter and covered event, then review the issued instrument and file it as directed. Checkout does not approve the contest.

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