(A) Each applicant, upon filing his or her application for license under this subchapter, shall file with the City Clerk a liability insurance policy and a dram shop insurance policy, each of which shall evidence a minimum coverage policy limits in an amount determined by resolution of the City Council from time to time, but which in no event shall be an amount less than that amount required by M.S. § 340A.409, as it may be amended from time to time and shall specifically provide for the payment by the insurance company on behalf of the applicant so insured of all sums which the insured shall become obligated to pay by reason of liability imposed upon him or her by law for injuries or damage to persons, other than employees, and property damage including liability imposed upon the insured by reason of M.S. § 340A.801, as it may be amended from time to time. The liability insurance policy shall further provide that no cancellation thereof for any cause, can be made either by the insured or the insurance company without first giving ten days written notice to the City Council of the intention to cancel the policy addressed to the City Clerk. The operation of an on-sale or off-sale business without having on file at all times with the city of liability and dram shop insurance policy herein referred to shall be grounds for immediate revocation of the license. No payment of any claim by the insurance company, shall, in any manner, decrease the coverage provided for in respect to any other claim or claims brought against the insured or company thereafter.
(B) The insurance policy required by this section shall be for the benefit of the obligee and all persons suffering damages by reason of the breach of conditions thereof.
(C) The City Clerk shall furnish to the Liquor Control Director of the state evidence of insurance covering the applicant as is required by M.S. § 340A.409, as it may be amended form time to time and this chapter.
(D) M.S. § 176.182, as it may be amended from time to time, also requires that a completed proof of worker’s compensation insurance coverage also be on file before the City Council may approve a liquor license.
(Ord. 474, passed 6-23-2003)