(A) Before engaging in the business of purchasing secondhand items containing valuable metals, a dealer shall post a bond with the Clerk-Treasurer in an amount determined by the town either with a surety company licensed to do business in the state, or in cash.
(B) The bond required in this chapter shall be for a term of one year following the cessation of doing business in valuable metals. Such bond shall inure to the benefit of the town or to any person who shall be injured or sustain damages approximately caused by the failure to comply with the terms of this chapter by any valuable metal dealer, canvasser, solicitor, or other agent or employee of such dealer.
('84 Code, § 112.05) Penalty, see § 112.99