CHAPTER 1345
Insurance and Bond   
1345.01   Insurance requirements.
1345.02   Performance bond requirements.
1345.03   Bond provisions.
1345.04   Joint insurance and bond requirements.
   CROSS REFERENCES
   Purpose and scope of regulations - see BLDG. 1341.01, 1341.02 
   Permits - see BLDG. Ch. 1343 
   Inspection of work - see BLDG. Ch. 1347 
1345.01 INSURANCE REQUIREMENTS.
   All contractors shall maintain on file a certificate of insurance against losses arising from any of the work covered by this Title Seven protecting against injury and death to any person in the amount of fifty thousand dollars ($50,000) for any injury or death to one person and one hundred thousand dollars ($100,000) for injury or death to all persons and twenty-five thousand dollars ($25,000) for damage to property and shall, further, furnish evidence of the same to the Building Inspector. However, any corporation having net assets in the amount of five million dollars ($5,000,000) over and above all liabilities need not comply with the provisions of this section if its officers furnish, at the time of application for a franchise, a financial statement, renewable yearly, and an indemnification letter holding the City harmless against all claims of public liability and property damage.
(Ord. 4873. Passed 8-5-57.)
1345.02 PERFORMANCE BOND REQUIREMENTS.
   All franchised contractors shall furnish and maintain on file at the office of the Building Inspector a performance bond of one thousand five hundred dollars ($1,500) which shall cover construction, installation, repair and alteration required by this Title Seven.
(Ord. 4873. Passed 8-5-57.)
1345.03 BOND PROVISIONS.
   The bonding company shall employ a franchised contractor to complete or make corrections when the bonded contractor fails to perform such work in accordance with this Title Seven when ordered to do so by the Board of Building Standards and Appeals.
(Ord. 4873. Passed 8-5-57.)
1345.04 JOINT INSURANCE AND BOND REQUIREMENTS.
   When a firm, corporation or association furnishes the certificate of insurance and bond, such certificate and bond shall also include the name of the person who is approved by the Board of Building Standards and Appeals for franchising.
(Ord. 4873. Passed 8-5-57.)