§ 1113. Ticket refunds.

(a) Full refund.--Upon postponement or cancellation of the main event or the entire program of contests or exhibitions, the promoter shall refund the full purchase price of each ticket to any person who presents the entire ticket for a refund within ten days after the scheduled date of the event. The promoter shall announce the postponement or cancellation at the beginning of the program and at other times during the event as the commission shall prescribe and shall notify the ticketholders in each announcement that they may present their ticket stubs for a refund of the purchase price during the program. The commission may require that written notice of the cancellation or postponement and the right to refund be posted at the site of the event in such manner as it may prescribe. After the event has concluded, a promoter who has complied with this subsection need not refund the purchase price upon presentation of a ticket stub.

(b) Forfeiture of security.--Failure of any promoter or foreign copromoter to comply with the provisions of subsection (a) shall be sufficient cause to warrant a forfeiture of his bond or other security and an imposition of a penalty or suspension or revocation of his license by the department as provided under section 1304 (relating to suspension or revocation of licenses or permits) or 1305 (relating to civil penalties).

(c) Pro rata refunds.--From the fund produced by the forfeiture, pro rata refunds shall be made by the department to persons who purchased tickets, in accordance with subsection (a).