1. (a) No commission member or staff, appointee, or any individual or club holding a license to conduct, hold, or give boxing contests, nor any officer, partner, or member, may receive any compensation from any person who sanctions, arranges, or promotes professional boxing contests; nor shall they have, either directly or indirectly, any financial interest in any contestant competing in any boxing contest that they conduct, hold, or give.
2. (b) For purposes of this section, the term "compensation" shall not include funds held in escrow for payment to another person in connection with a professional boxing contest. The prohibition set forth in this section shall not apply to any contract entered into, or any reasonable compensation received, by the commission to supervise a professional boxing contest in this State or another state.

[L 1929, c 216, §30; RL 1935, §7017; RL 1945, §7578; RL 1955, §165-29; HRS §440-27; am L 1983, c 241, §21; am L 2004, c 135, §21]