(1) A boxing, kickboxing, or muay thai contest or exhibition shall not consist of more than twelve (12) rounds. The duration of the rounds shall be determined by the commission through the promulgation of an administrative regulation. (2) Prior to any boxing show, the promoter shall file with the commission a copy of each contract involving compensation of the contestants and a copy of each contract under which he or she will receive, directly or indirectly, compensation from any source. Any person making payments under any of these contracts shall promptly report to the commission the amount of these payments.
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