§ 6-6.07. Bond.

At the time of filing with the Chief of Police an application for such license, each applicant shall file and thereafter maintain with the City Tax Collector a good and sufficient bond in the aggregate sum of Two Hundred Fifty and no/100ths ($250.00) Dollars running to the City for the use and benefit of interested persons and parties executed by the applicant and by two (2) or more responsible sureties who are residents and householders of the City or a surety company authorized to do business in the State, to be approved by the Tax Collector. The total aggregate liability on said bond shall be limited to the payment of Two Hundred Fifty and no/100ths ($250.00) Dollars. Said bond shall be conditioned upon the strict compliance by the licensed applicant with the provisions of this chapter and the payment of any direct pecuniary loss sustained through any act of grand or petit theft on the part of the said applicant by any person to whom tickets, checks or coupons or goods, wares or merchandise have been sold or photographs taken.

Said bond shall remain in force and effect until said bond and undertaking is cancelled by the sureties. The sureties may cancel said bond and be relieved of further liability thereunder by delivering thirty (30) days' written notice to the City Tax Collector. Such cancellation shall not affect any liability incurred or accrued thereunder prior to the termination of said thirty (30) day period.

Any person who sustains any injury covered by said bond may in addition to any other remedy that he may have, bring an action in his own name upon said bond for the recovery of any damage sustained by him.

Upon such action being commenced, such bond shall not be void upon first recovery thereon, but may be sued upon from time to time until the whole of such penalty shall be exhausted. The Tax Collector may in his discretion require the filing of a new bond and immediately upon the recovery in any action of such bond such solicitor shall file a new bond and upon failure to file the same within ten (10) days in either case, the Tax Collector shall forthwith suspend such solicitor's license.

The time within which any action may be brought against a surety upon any bond filed hereunder may by express provision of the bond to that effect, be limited to a period of two (2) years from and after the discovery by the person aggrieved of the act or default complained of.

(Sec. 132(f), Ord. 487-N.S., as amend by Sec. 1, Ord. 821-N.S., effective 7-11-47)