A. No local liquor license shall be granted to an applicant or renewed until the applicant has furnished evidence satisfactory to the local liquor control commissioner that the applicant is covered by a policy of dramshop insurance issued by a responsible insurance company authorized and licensed to do business in the state insuring such applicant against liability which such applicant may incur under the provisions of 235 Illinois Compiled Statutes 5/6-21 or similar state law.
B. No licensee or person requiring a license pursuant to state law and/or this chapter shall sell alcohol at retail or transfer or deliver alcoholic liquor to another person unless the sale, transfer or delivery is covered by a policy of dramshop insurance issued by a responsible insurance company authorized and licensed to do business in the state insuring such applicant against liability which such applicant may incur under the provisions of 235 Illinois Compiled Statutes 5/6-21.
C. The insurance required by this section shall have a May 1 renewal date and be issued subject to a requirement that the insurance carrier shall give the city at least thirty (30) days' notice prior to cancellation, termination or amendment of the policy. If license is issued for an event to take place on City property, the policy of dramshop insurance shall also name the City as an additional insured. (Ord. 13-16, 4-1-2013)