Whenever a surety bond to indemnify the village is required as a prerequisite to exercising the duties of any office or position or to the issuance of a license or permit or the exercise of any special privilege, the surety on the bond shall be a corporation licensed and authorized to do business in the state as a surety company, in the absence of specific provision to the contrary by the provisions of this code.
(Prior Code, § 1-9-2)