The commission shall adopt rules, pursuant to RSA 541-A, relative to:
I. The conduct of amateur and professional fighting sports competitions;
II. Requirements and qualifications for licenses, permits and amateur cards for persons involved in fighting sports competitions;
III. The grounds for revocation or suspension of a license or permit, and the reinstatement of suspended licenses and permits;
IV. Promoters' bonds; and
V. Insurance coverage required by the commission.