(A) Before a license required under this division shall be issued to any applicant, the applicant shall post a bond with the city in the amount of $1,000. In lieu of posting a bond, the applicant may deposit a cashier’s check or cash in the same amount.
(B) The security required by subsection (A) shall be available to indemnify any person for any damage which may accrue by reason of the applicant’s failure to properly provide or install insulation, energy utilization equipment or other materials designed or intended to meet the state building code standards for insulation and energy utilization.
(1989 Code, § 7-123)