N.Y. General Business Law 1016 – Required filings
§ 1016. Required filings. 1. The organization that promotes, sanctions or otherwise participates in the proposition, selection, or arrangement of one or more professionals for a contest must file with the commission a written statement executed under penalty of perjury stating (a) all charges, expenses, fees, and costs that will be assessed against any professional participating in the event; (b) all payments, benefits, complimentary benefits and fees the organization or entity will receive for its affiliation with the event; (c) the name of the promoter; (d) sponsor of the event; and (e) all other sources, and such other and additional information as required by the commission. Such written statement shall be filed in a form and manner acceptable to the commission.
Terms Used In N.Y. General Business Law 1016
- Combative sport: means any unarmed bout, contest, competition, match, or exhibition undertaken to entertain an audience, wherein the participants primarily grapple or wrestle, or deliver blows of any kind to, or use force in any way to manipulate, the body of another participant, and wherein the outcome and score depend entirely on such activities. See N.Y. General Business Law 1000
- Commission: means the state athletic commission as provided for in section one thousand three of this article, or an agent or employee of the state athletic commission acting on its behalf. See N.Y. General Business Law 1000
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Professional: means any participant in a combative sport authorized pursuant to this article, other than an amateur, who is receiving or competing for, or who has ever received or competed for, any purse, money, prize, pecuniary gain, or other thing exceeding seventy-five dollars in value. See N.Y. General Business Law 1000
2. The promoter, organizer, producer or another that participates in the proposition, selection, or arrangement of one or more professionals for a contest must file with the commission a written statement under penalty of perjury detailing all charges, fees, costs and expenses by or through the promoter on the professional pertaining to the event, including any portion of the professional's purse that the promoter will receive and training expenses and all payments, gifts or benefits the promoter is providing to any sanctioning organization affiliated with the event. Such written statement shall be filed in a form and manner acceptable to the commission.
3. The promoter, organizer, producer or another that participates in the proposition, selection, or arrangement of one or more professionals for a contest must file with the commission a copy of any agreement in writing to which the promoter is a party with any professional participating in the match.
4. All contracts calling for the services of a professional in an authorized professional combative sport and entered into by licensed promoters, professionals or managers as one or more of the parties in such contracts, including those contracts which relate to the rights to distribute, televise or otherwise transmit any authorized professional combative sport over the airwaves or by cable shall be subject to the approval of the commission and copies thereof shall be filed with the commission by such corporation, professional or manager within forty-eight hours after the execution of such contract and at least ten business days prior to any bouts, or the first of any series of bouts, to which they relate. The commission may waive such filing deadline for good cause shown.