(A) (1) At the time of filing the application for transient merchant license, the applicant shall also file and deposit with the Clerk-Treasurer a bond with sureties to be approved by the Clerk-Treasurer in the penal sum of $750 or three times the value of the goods, wares and merchandise to be offered for sale or sold as shown by the inventory filed, whichever sum is greater, running to the town. Cash may be posted and deposited with the Clerk-Treasurer in lieu of a bond. The bond shall be forfeited and used for the benefit of:
(a) Any purchaser of goods, wares or merchandise sold by the applicant, if the purchaser is awarded a judgement as a result of a cause of action against the applicant that was commenced within one year of and that arose out of the sale;
(b) The operating budget of the town’s prosecuting attorney, if the applicant is found by a court to have violated of this subchapter, although the amount forfeited under this division (A) may not exceed one-third of the bond;
(c) The town, if the applicant fails to pay all taxes due from the applicant to the state; or
(d) A court in payment or partial payment of any fines that may be assessed by the court against the applicant, its agents or employees for violation of this chapter.
(2) However, the aggregate liability of the surety for all taxes, fines, disbursements/and causes of action may not exceed the amount of such bond. There shall be no limitation of liability against the transient merchant or the applicant for the license.
(B) In such bond, the applicant and surety shall appoint the Clerk-Treasurer the agent of the applicant, and the surety for the service of process. In the event of such service of process, the agent on whom such service is made shall, within five days after the service, mail by ordinary mail a true copy of the process served upon him or her to each party for whom he or she has been served, addressed to the last known address of such party. Failure to mail the copy shall not, however, affect the court’s jurisdiction.
(C) The town or any person having a cause of action arising from or out of any sale or sales of goods, wares or merchandise or against the applicant may join the applicant and the surety on such bond in the same action or may sue either such applicant or the surety alone.
(Ord. 07-02, passed 5-7-2007) Penalty, see § 112.99