[§440E-21]  Financial interest in mixed martial arts contestant prohibited.  (a)  The director shall not receive any compensation from any person who sanctions, arranges, promotes, conducts, holds, or gives mixed martial arts contests; nor shall the director have, either directly or indirectly, any financial interest in any contestant competing in any mixed martial arts contest.

     (b)  For the purposes of this section, "compensation" shall not include funds held in escrow for payment to another person in connection with a mixed martial arts contest.  The prohibition set forth in this section shall not apply to any contract entered into, or any reasonable compensation received, by the director to supervise a mixed martial arts contest in this State or another state. [L 2007, c 279, pt of §1]