(A) Unless otherwise excepted by this section, each application for an on-sale or off-sale 3.2% malt liquor license shall be accompanied by one of the following proofs of financial responsibility:
(1) Certificate of insurance. A certificate that there is in effect an insurance policy issued by an insurer required to be licensed by M.S. § 60A.07, subd. 4, as it may be amended from time to time, or by an insurer recognized as an eligible surplus line carrier pursuant to M.S. § 60A.206, as it may be amended from time to time, or pool providing coverage of at least:
(a) Fifty thousand dollars for bodily injury to any one person in any one occurrence and subject to the limit of one person;
(b) One hundred thousand dollars for bodily injury to two or more persons in any one occurrence;
(c) Ten thousand dollars for injury to or destruction of property of others in any one occurrence;
(d) Fifty thousand dollars for loss of means of support of any one person in any one occurrence and, subject to the limit for one person;
(e) One hundred thousand for loss of support of two or more persons in any one occurrence;
(f) Fifty thousand dollars for other pecuniary loss of any one person in any one occurrence; and
(g) One hundred thousand dollars for other pecuniary loss of two or more persons in any one occurrence.
(2) Bond. A bond of a surety company with minimum coverages as provided in division (A)(1) above; or
(3) Commissioner of Management and Budget certificate. A certificate of the state’s Commissioner of Management and Budget that the licensee has deposited with the Commissioner of Management and Budget $100,000 in cash or securities which may legally be purchased by savings banks or for trust funds having a market value of $100,000.
(B) Temporary on-sale 3.2% malt liquor license. A certificate of insurance, bond or certificate from the Commissioner of Management and Budget as set forth in division (A) above are required for temporary on-sale 3.2% malt liquor licenses. The insurance policy or bond must have the following coverage: $100,000 bodily injury each person; $200,000 each common cause; $100,000 property damage each common cause; $100,000 loss of means of support; $200,000 each common cause; and $300,000 annual aggregate. If the event is to be held on city property, the city shall be named as an additional insured and the license holder shall agree to hold the city harmless and indemnify and defend the city for acts of the license holder.
(C) Applicability. Division (A) above does not apply to 3.2% malt liquor licensees who by affidavit establish that:
(1) They are on-sale 3.2% malt liquor licensees with sales of less than $25,000 or 3.2% malt liquor for the preceding year; or
(2) They are off-sale 3.2% malt liquor licensees with sales of less than $50,000 of 3.2% malt liquor for the preceding year.
(D) Approval by Council. The proof of financial responsibility shall be approved by the Council and, when required, by the Commissioner of Public Safety. The City Attorney shall approve the form of the financial responsibility.
(E) Revocation of license. The operation of such off-sale or on-sale 3.2% malt liquor business without having proof of financial responsibility on file, at all times, with the city, if required by this section, shall be grounds for immediate revocation of the license. Notice of cancellation of a current liquor liability policy shall serve as notice of the impending revocation of the license.
(Prior Code, § 503.07) (Ord. 591, passed 10-29-1996; Ord. 843, passed 05-20-2010; Ord. 951, passed 09-24-2018)