A surety bond is required in New York for those actively licensed, or those applying for a license to conduct or otherwise offer wrestling, mixed martial arts (MMA) or boxing and sparring exhibitions pursuant to the provisions of Chapter 714 of the Laws of 1921, entitled, “Allowing and regulating MMA, boxing, sparring and wrestling matches, and establishing a State Athletic Commission”. The surety bond mandated by the State Athletic Commission in the penal sum is usually in an amount of $10,000. The purpose of the surety bond is to guarantee the faithful performance of the provisions of the act and the rules and regulations of the New York State Athletic Commission.
