A. Bond Required: Every application made by a transient retail merchant taking orders for future delivery and collecting advance payments, deposits or guarantees thereof shall be accompanied by a bond per Montana Code Annotated title 7, chapter 21 paid to the city finance officer.
B. Form Of Bond:
1. The bond shall be executed by a surety company licensed to do business in this state. (1975 Code § 3-6-7; amd. 2015 Code)
2. In lieu of a bond meeting the requirement of this section, the bond may be a cash bond of equal amount.
C. Approval Of Bond: The bond shall be approved by said city finance officer and conditioned upon making of final delivery of the goods ordered in accordance with the terms of such order or failing therein, that the money advanced his customers be refunded.
D. Term Of Bond: Such bond shall remain in full force and effect for a period of six (6) months after the expiration of any such license and shall be held to assure only business transacted under the authority of the license issued pursuant to the application which such bond accompanied.
E. Bond In Lieu Of License Fee: In lieu of the license fee provided for in section 3-6-4 of this chapter, every transient retail merchant who files with the application required in section 3-6-6 of this chapter an affidavit indicating bona fide intention to become a permanent merchant and continue in business for a period longer than one year shall, upon filing and approval of the bond provided for in this section, receive from the city finance officer a license permitting the conduct of such business for one year. Such bond in lieu of license fee shall be conditioned upon the performance of the intention to become a permanent merchant and continue in business for a period longer than one year and to ensure the payment of license fees for the period such business is actually conducted if not in fact a bona fide permanent business. The bond shall be further conditioned upon the delivery of goods ordered or sold in accordance with the terms of such order or sale. (1975 Code § 3-6-7)