(1) All combatants of professional unarmed combat contests, promoters, managers, matchmakers, seconds, ringside physicians and any other ring official shall be licensed by the commission. No person shall participate, directly or indirectly, in any professional contest of unarmed combat unless the person has first applied for and received a license from the commission.
(2) The commission shall establish license fees for professional combatants, promoters, managers, matchmakers, seconds, ringside physicians and any other ring official who shall be licensed by the commission in regulated unarmed combat contests and shall have the authority to establish any fees deemed necessary for professional contests held within this state. Failure to pay the fees shall be cause for denial of the application.
(3) License applications shall be in writing on forms prescribed by the commission and shall correctly identify the applicant. Licenses shall be valid for two (2) years from the date of issuance. Applicants for the license shall pay a biennial license fee to be fixed by the commission on a uniform scale and a fifty-dollar nonrefundable application fee.
(4) The commission may deny an application for a license.
(5) Before any promoter's license is granted, the applicant shall file a bond in an amount fixed by the commission, but not less than twenty-five thousand dollars ($25,000), executed by the applicant as principal, and by a corporation qualified under the laws of this state as surety, payable to this state, and conditioned upon the faithful performance by the applicant of this chapter.
(6) A person who has failed to pay any reportable fee or tax due the commission shall not be issued a promoter's license or have a promoter's license renewed. This subsection (f) shall also apply to a corporation, limited liability company or a partnership for which the person was an officer, managing member or member.
(7) This section shall not apply to amateur sanctioning organizations or amateur combatants.