Every person, firm, or corporation licensed under this article shall, at the time of receiving the license, file with the city or county issuing the license a bond payable to such city in the sum of $5,000, to be executed by the licensee, and by two responsible sureties or a surety company licensed to do such business in this state, to be approved by the city, which shall be for the faithful performance of the requirements and obligations pertaining to the business so licensed. The city may sue for forfeiture of the bond upon a breach thereof. Any person who obtains a judgment against a pawnbroker and upon which judgment execution is returned unsatisfied may maintain an action in his or her own name upon the bond, to satisfy the judgment.
(G.S. § 66-399) (Am. Ord. passed 4-20-99)