Nev. Admin. Code § 467.142 - Payment of purse: Time and manner; permissible withholding

1. All payment of purses must be made:

(a) Immediately after the contest or exhibition; or

(b) If the unarmed combatant is to receive a percentage of the net receipts, immediately after that percentage is determined by a person designated by the Commission, unless otherwise ordered by the Commission.

2. Except as otherwise provided in subsection 5, before the start of a contest or exhibition, the promoter shall deliver to the Commission, checks, letters of credit or another method of payment that is approved by the Commission for distribution to the entitled persons. Except as otherwise provided in subsection 5, all methods of payment other than checks must be described to the Commission not later than 10 days before the date of the contest or exhibition.

3. Except as otherwise provided in subsection 5, immediately after the contest or exhibition, the person designated by the Commission will release the payments to the entitled persons and will obtain their signatures on a list in which they acknowledge the payment.

4. The promoter may withhold an amount of not more than 10 percent of the purse for payment of expenses incurred by the unarmed combatant. A reconciliation of those expenses and payment of the undistributed portion of the purse must be made to the Commission within 5 working days after the contest or exhibition. The reconciliation must bear written approval of the unarmed combatant before it is submitted or include a sufficiently detailed explanation of the payment to establish to the satisfaction of the Commission a reconciliation of expenses and payments. If good cause is shown, the Chair or his or her designee may grant an extension of the date for reconciliation for a period not to exceed 30 days after the contest or exhibition.

5. At the discretion of the Commission, the Commission may authorize a promoter to pay a purse by electronic means, including, without limitation, wire transfer. If a purse is paid by electronic means, the promoter must provide the Commission with proof that the purse was paid to an unarmed combatant by electronic means.

Notes

Nev. Admin. Code § 467.142

[Athletic Comm'n, § 91, eff. 4-25-78]-(NAC A 12-13-82; 11-2-88; 12-2-97); A by R062-16A, eff. 9/9/2016; A by R032-18A, eff. 1/30/2019

NRS 467.030