Every applicant for a license issued under this chapter shall, upon approval of his or her application, furnish and file with the Commissioner of Assessments and Licenses a bond in the sum of two thousand five hundred dollars ($2,500.00), to be approved as to form by the Director of Law and as to sufficiency by the Director of Finance, guaranteeing full and faithful compliance by the applicant with this chapter and binding the surety thereon to indemnify a consumer who suffers a loss by reason of the failure of such rental agency to comply with this chapter.
(Ord. No. 224-81. Passed 5-4-81, eff. 5-7-81)