STATE ATHLETIC COMMISSION
AN ACT TO AMEND CHAPTER 164 OF THE REVISED CODE OF DELAWARE, 1935, RELATING TO THE STATE ATHLETIC COMMISSION BY PROVIDING ADDITIONAL CONDITIONS FOR THE BONDS REQUIRED TO BE GIVEN BY LICENSEES TO THE COMMISSION AND FOR THE DEPOSIT AND DISBURSEMENT OF MONEYS COLLECTED AND REALIZED BY THE COMMISSION UNDER THE PROVISIONS OF SAID CHAPTER.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
Section 1. That Chapter 164 of the Revised Code of Delaware, 1935, be and the same hereby is amended by striking out all of 5526. Section 16 of said Chapter and by inserting in lieu thereof a new Section to be known as 5526. Section 16 as follows:
5526. Section 16. Bonds:--Before a license shall be granted to a corporation or person, such corporation or person shall execute and file with the commission a bond in the sum of not less than one thousand dollars ($1,000.00) except as herein otherwise provided for, to be approved as to form and sufficiency of sureties thereon by said commission, conditioned upon the faithful performance by the licensee of the provisions of this chapter and of the rules and regulations of the commission and further conditioned that the licensee will pay or cause to be paid to all, contestants any and all sums of money due under any contract or agreement between such contestant and the licensee or licensee's agent with relation to any exhibition the conduct of which is authorized by the license granted by the commission to the licensee. No such license shall be issued until such bond is approved and filed. In case of default in the performance of any of the conditions prescribed by the Chapter by the rules and regulations of the commission, the commission shall impose upon the delinquent corporation or person a penalty in a sum not to exceed the amount of the required bond for each offense, which shall be recovered by the Attorney General in the name of The State of Delaware, in the manner as other penalties are recovered by law. Any amount so recovered shall be paid to the State Treasurer for the use of the commission.
Section 2. That Chapter 164 of the Revised Code of Delaware, 1935, be and the same is hereby amended by striking out all of 5535. Section 25 of said Chapter and by inserting in lieu thereof a new Section to be known as 5535. Section 25 as follows:
5535. Section 25. All Moneys Paid to State Treasurer:--All moneys collected and realized under the provisions of this Chapter shall be paid, within five days after the receipt of any such moneys by the secretary of the commission to the State Treasurer, who shall keep the moneys collected and realized under the provisions of this Chapter as a fund separate and apart in the State Treasury for the payment, upon proper warrants signed by the chairman and secretary of the State Athletic Commission and approved by the State Auditor, of the salaries and actual necessary expenses of the officers and employees of the commission, and all other necessary expenses incident to the administration of this Chapter, including the payment and disbursement to the contestants participating . in any licensed exhibition of any sum or sums of money due to and received by the commission by reason of the breach by, any licensee of the conditions of any bond furnished under the provisions of Section 16 of this chapter; provided, however, that in no case shall any warrant be paid by the State Treasurer for the expenses of any contest until the moneys collected and realized for said contest have been paid to said official by the said secretary. All moneys in excess of Two Thousand Dollars ($2,000.00) remaining in said fund at the expiration of any calendar year shall revert to the general fund of the State for the purpose of providing money for the payment of the salaries and actual and necessary expenses of the officers and employees of the commission, and all other necessary expenses incident to the administration of this Chapter, the sum of Fifteen Hundred Dollars ($1500.00) is hereby appropriated for the use of said commission. The secretary of the commission shall give a surety bond to the State of Delaware in such sum as the commission may determine premium on such bond shall be regarded as a proper and necessary expense of the commission, and shall be paid out of the funds herein created.
Approved April 14, 1939.