Section 24.02.01.108 - SURETY BOND OR OTHER SECURITY01.Requirement. Every promoter who applies for a sanctioning permit shall furnish a surety bond or other form of financial security to the Commission consistent with Section 54-408, Idaho Code. The bond or other form of financial security will be in an amount deemed by the Commission to be adequate to guarantee payment of all taxes, fees, fines, and other moneys due and payable under Title 54, Chapter 4, Idaho Code and the Commission's rules, including reimbursement to the purchasers of tickets for the event.02.Various Locations. The promoter may apply one (1) bond or other form of financial security to multiple locations if only one (1) of the covered locations is scheduled for an event on any given calendar date.03.Total Sum. Each bond or other form of financial security must be conditioned for the payment to the Commission of a sum equivalent to the total sale of tickets:a. If the main event is not held on the date advertised, unless the event is subsequently held on a date fixed by the Commission; andb. If the main event is neither held on the original date advertised nor on a subsequent date fixed by the Commission.04.Sum Due. The sum is due within fifteen (15) days after default, to ensure reimbursement to the purchasers of tickets for the event, if the reimbursement of ticket holders is ordered by the Commission.Idaho Admin. Code r. 24.02.01.108
Effective June 1, 2024 (Temporary)