(A) Proof. No alcoholic beverage license shall be issued or renewed unless and until the applicant has provided proof of financial responsibility, imposed by statute, by filing with the city:
(1) A certificate that there is in effect an insurance policy or pool providing minimum coverages in the following amounts, effective May 12, 2011:
(a) At least $50,000 because of bodily injury to any one person in any one occurrence, and, subject to the limit for one person, in the amount of $100,000 because of bodily injury to two or more persons in any one occurrence, and in the amount of $10,000 because of injury to or destruction of property of others in any one occurrence;
(b) Fifty thousand dollars for loss of means of support of any one person in any one occurrence, and, subject to the limit for one person, $100,000 for loss of means of support of two or more persons in any one occurrence; and
(c) Fifty thousand dollars for other pecuniary loss of any one person in any one occurrence, and $100,000 for other pecuniary loss of two or more persons in any one occurrence; an annual aggregate of $300,000 may be included in the insurance coverage.
(2) A bond of a surety company with minimum coverages as provided in division (A)(1) of this section; or
(3) A certificate of the State Treasurer that the licensee has deposited with him or her $100,000 in cash or securities which may legally be purchased by savings banks or for trust funds having a market value of $100,000.
(B) Exception. This section does not apply to on-sale beer licensees with sales of beer of less than $25,000 for the preceding year, nor to off-sale beer licensees with sales of beer of less than $50,000 for the preceding year, nor does it apply to holders of on-sale wine licenses with sales of wine of less than $25,000 for the preceding year. An affidavit of the licensee shall be required to establish the exemption under this division (B).
(C) Documents submitted to Commissioner. All proofs of financial responsibility and exemption affidavits filed with the city under this section shall be submitted by the city to the Commissioner.
(1989 Code, § 5.12) (Ord. 29, 2nd Ser., eff. 5-14-1999; Ord. 59, 2nd Ser., passed 5-3-2011)