The annual license fee to engage in the business of a collection agency within this Town shall be fifty dollars ($50.00). For purposes of this section, solicitation or collection by or through an agent operating within this Town shall be considered to be engaging in the business of a collection agency within this Town. Before such certificate of license is issued, the person applying therefor shall execute a continuing bond in the form prescribed by the Town Attorney with satisfactory corporate surety in the penalty of five thousand dollars ($5,000), conditioned that such person will pay all damages resulting from any unlawful act or action by such person or his or its agent in connection with the conduct of the business of the collection agency. This bond shall be filed with the Recorder.
(1973 Code §13-24)