No such permit shall be issued to any person who, according to his application or the investigation made pursuant to this chapter, is deemed by the Chief of Police reasonably probable to have any propensity toward theft, embezzlement, falsification or misrepresentation or to be a person who is not law abiding or of good moral character or a person who is not then, and for one year thereafter reasonably probable to be, available to be contacted by law officers and by process servers for the service of process in any action brought by any person paying money to such applicant upon any transaction described in this chapter or is reasonably probable to receive advance payments described in this chapter which will total, as to all items of merchandise not delivered, services not performed and labor and materials not furnished, an amount in excess of one-half of the net worth of the applicant over and above all liabilities and exempt property; provided however that the applicant may remove the objection to his not being available for the service of process, by executing and filing with the Chief of Police a written authorization designating him as the agent of the applicant to accept the personal service of process in any civil action involving the return of the advance payment made to the applicant upon any transaction described in this chapter and provided further that the applicant may remove the objection to his inadequate net worth, and may be excused from submitting a statement of his assets and liabilities under this chapter, by filing with the Chief of Police a surety bond, or other security approved by the City Attorney to insure the return of any advance payment by the applicant upon any transaction described in this chapter, to which sum the applicant may not be entitled, together with court costs and reasonable attorney fees in any action to recover such advance payment. A permit to accept such advance payment good for a period of one year shall be issued by the Chief of Police to each applicant therefor who complies with the provisions of this chapter and is not herein prohibited from having such a permit. Such permit shall specify the activity which it authorizes and the amount or percentage of advance payment authorized thereby. No person shall accept any advance payment upon any transaction described in this chapter except as authorized by such permit. A person who gives false information in his application shall not be deemed to be a person of good moral character unless the Chief of Police determines such falsification to have been the result of inadvertence, excusable neglect, a lack of understanding or that it does not impair the good moral character of the applicant. (Ord. 1845 § 2 (part), 1972).