§ 348. Local organizing committee; responsibilities. (a) The local
organizing committee may not engage in any conduct that reflects
unfavorably upon this state, the endorsing municipality, or the olympic
games, or that is contrary to law or to the rules and regulations of the
United States olympic committee and the international olympic committee.

(b) By December first, two thousand five the local organizing
committee shall use its reasonable best efforts to provide adequate
security, acceptable to the state to demonstrate the local organizing
committee's ability to indemnify and insure the first twenty-five
million dollars of any net financial deficit resulting from the conduct
of the games for which the endorsing municipality and state would be
liable under a games support contract. Such security may be provided
through the establishment of an internal guaranty fund, insurance
coverage, letters of credit, or other acceptable security instruments,
or by any combination thereof. Any such security shall identify the
endorsing municipality and the state as additional insureds.