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Minnesota bonds

Minnesota — Combative Sports Promoter Bond

Minnesota requires a promoter bond in favor of the State before the Office of Combative Sports issues the license. The commissioner sets the sum, which cannot be less than $10,000. Match the actual security request along with the promoter's legal identity and business authorization.

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

What this bond does

Section 341.30, subdivision 4, conditions the bond on faithful performance of the promoter's obligations under Chapter 341 and its rules. It is broader than a guarantee of a single fighter's purse or one private contract.

Who needs it
A person or business entity holding or sponsoring a combative sports contest subject to Minnesota OCS promoter licensing. The promoter application is distinct from the licenses required for combatants, officials and corners.
Who it protects
The bond is executed in favor of the State of Minnesota and deposited with the commissioner as a prelicensure requirement. It does not replace the separately required combatant medical and life insurance or the event request.

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 Minnesota's promoter licensing file

The statutory $10,000 figure is a minimum, not a promise that every request will be set at that sum. Section 341.30 gives the commissioner authority to set the amount and requires faithful performance under the chapter and rules. Use the accepted State-payable undertaking and the actual requested sum rather than a purse-only substitute.

Prelicensure documents include ownership information, the applicant's latest financial statement and applicable authorization to do business in Minnesota. The statute identifies owners with interests of at least 25 percent; complete all information required by the current application. DLI's promoter checklist also requests promotional contracts with combatants.

Licenses issued on or after January 1, 2023 expire one year after issuance under Section 341.32. That licensing provision does not supply the bond's expiration or cancellation terms. Follow the accepted instrument's period and continuation directions separately, and use OCS's licensing system for the promoter filing rather than treating provider checkout as registration.

Sources

Have these ready

  1. Obtain the commissioner's required sum and accepted State of Minnesota undertaking.
  2. Provide the promoter's legal name, entity ownership and applicable Minnesota business authorization.
  3. Have the latest financial statement and promotional contracts available.
  4. Match the legal applicant, State obligee, effective period and proper surety execution.
  5. Complete the separate OCS application, event request and participant insurance arrangements.

Questions about this bond

Is $10,000 always the required amount?

It is the statutory minimum. The commissioner sets the required sum, so obtain the actual request rather than assuming the minimum is sufficient for your file.

Does this only secure a contestant's purse?

The statutory condition is faithful performance of the promoter's duties under Chapter 341 and its rules. Use the complete accepted undertaking; a private single-contract guarantee does not establish compliance with that condition.

Does the bond replace the required participant insurance?

No. Section 341.34 addresses separate medical and life insurance for combatants, payable by the promoter. The State-payable security in the licensing file is a different requirement.

How does Purchase Now work?

It opens Propeller's application for this Minnesota combative-sports promoter offering in a new tab. Match the commissioner's amount, State obligee, legal applicant and accepted dates. Review and execute the issued document, then submit it through the separate OCS licensing process.

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