HAR §16-74-216. Certified or cashier’s check

A certified or cashier’s check payable to the state boxing commission in an amount designated by the commission shall be submitted to the commission not less than four days prior to the staging of a scheduled, sanctioned boxing contest. The certified or cashier’s check shall represent a reasonable guarantee of an amount set aside by the commission for the total cost of fighters’ purses as estimated for the contest, and the fees of the ring officials. The commission may accept an irrevocable letter of credit in a form approved by the commission drawn upon a bank or savings and loan association authorized to do business in this State in lieu of a certified or cashier’s check once the commission is satisfied that the promoter has established financial credibility. [Eff 10/2/81; am 12/8/86; comp 10/5/91] (Auth: HRS §440-6) (Imp: HRS §440-9)