Any person desiring to hold an auction sale shall file a sworn written application for a license, stating the name and the address of the applicant, the place where the sale is to be conducted, the name and address of the owner of the property proposed to be sold, and shall attach to it a sworn inventory and description thereof, and shall file with the Director of Finance a good and sufficient bond in the sum of five hundred dollars ($500.00) with two (2) or more sureties thereon, or with the surety thereon a surety company authorized to do business within the State of Ohio. The bond shall be subject to the approval of the Director of Law, and shall be conditioned upon the faithful observance of all the conditions of this chapter and the indemnity of any purchaser at such auction who suffers any loss by reason of any misrepresentation in such auction.
(1943 R.O., Ch. II, Art. I.)