(a) (1) (A) Except as provided under subdivisions (a)(1)(B)(ii) and (iii) of this section, the State Athletic Commission shall have the sole discretion, management, control, and jurisdiction over all combative sports matches and exhibitions in this state.

(B)

(i) The commission shall adopt uniform policies, fees, and forms to ensure fair regulation of the combative sports industry.

(ii)

(a) However, rules promulgated by the commission concerning surety bonds, ambulance requirements, and ringside physicians for combative sports shall not apply to a professional wrestling event with an audience of fewer than one thousand five hundred (1,500) spectators.

(b) The commission may further exempt a professional wrestling event under subdivision (a)(1)(B)(ii)(a) of this section as it deems appropriate.

(iii)

(a) A professional wrestling event held for a charitable purpose may be exempt from the uniform policies, fees, and forms of the commission.

(b) To be exempt from the uniform policies, fees, and forms of the commission under subdivision (a)(1)(B)(iii)(a) of this section, the promoter of the charitable event shall notify the commission at least ten (10) days before the event is held.

(c) Notice under subdivision (a)(1)(B)(iii)(b) of this section shall include:

(1) A description of the charitable purpose;

(2) The date, time, and location of the event; and

(3) An estimate of proceeds that will result from the event.

(d) The promoter of a professional wrestling event held for a charitable purpose under subdivision (a)(1)(B)(iii)(a) of this section shall ensure that at least twenty percent (20%) of the ticket fees are donated to the charitable purpose.

(2) A combative sports match and exhibition declared to be amateur and self-regulated shall be governed by the commission unless sanctioned by:

(A) A federally recognized sanctioning body approved in writing by the commission; and

(B) A national oversight body with 501(c)(3) status under the Internal Revenue Code of 1986 operating in at least six (6) states approved in writing by the commission.

(b)

(1) The commission shall have the authority to appoint and pay inspectors and other officials necessary to properly conduct any match or exhibition authorized by this chapter.

(2) The inspectors and other officials may receive reimbursement for travel under § 25-16-901 et seq.

(c) The commission shall have the authority to adopt and promulgate, amend, or abrogate any and all rules and regulations considered by it necessary or expedient for the performance of its functions as provided in this chapter and in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

(d) The commission may issue subpoenas, examine witnesses, and administer oaths and shall, at its discretion, investigate allegations or practices violating the provisions of this chapter.

(e) The commission shall have the authority to hire an investigator for the purposes outlined in this section.

(f) The commission shall have the authority to require event permits and insurance for combative sports with limits to be adjusted by the rules and regulations of the commission.

(g) The commission shall have the authority to make a claim on the bond or check posted by a promoter for combative sports events in order to make reimbursements for any unpaid fees, prize money, or other financial commitments of the promoter related to combative sports activity licensed by the commission.

(h) The commission shall have the authority to specify the forms required under this chapter.