(A) No license shall be granted to any applicant until such applicant shall furnish evidence satisfactory to the Local Liquor Control Commissioner that such applicant is covered by a policy of liquor liability insurance ("dram shop insurance") issued by a responsible insurance company authorized and licensed to do business in the state, insuring such applicant against liability which such applicant may incur under the provisions of 235 ILCS 5/6-21 with coverage limits not less than $1,000,000 per person and per occurrence and the premium paid in full.
(B) Each licensee shall furnish the Local Commissioner with a certificate of such insurance prior to the issuance of the license and annually. In the event of a cancellation, the Local Liquor Control Commissioner or Village Manager shall be notified immediately of such cancellation. The failure to secure and continuously maintain insurance coverage as stated herein shall be grounds for the immediate suspension of business activities and/or revocation of the liquor license by the Local Liquor Control Commissioner.
(C) For Class E (temporary special event on village-owned property) licenses, the licensee shall furnish the dram shop insurance policy as required above under division (A) above and furnish a general liability insurance policy with a minimum $2,000,000 per person and $2,000,000 per occurrence coverage limits with the premium paid in full and execute and return to the Village Manager a License And Indemnification Agreement For Temporary Use Of A Public Right-Of-Way To Operate A Special Event prepared by the Village Attorney prior to being allowed to sell or serve alcoholic liquor at the special event.
(1997 Code, § 35.29) (Ord. 78-10, passed 5-25-1978; Am. Ord. CO-97-07,passed 10-9-1997; Am. Ord. CO-2010-25, passed 12-21-2010)