(A) The City Council may, after proper hearing, revoke a license issued whenever it shall appear, upon investigation, that a license was obtained as a result of misrepresentation or fraud.
(B) If for any reason the required policy of insurance or indemnity deposit terminates, lapses, becomes ineffective or falls below the minimum standards specified in this chapter, then any license issued thereon shall automatically terminate after five days unless the licensee obtains a new policy or restores the deposit, whichever the case may be.
(Prior Code, § 10-905)