(A) The Clerk-Treasurer shall require from each transient merchant or solicitor, a bond, either cash not exceeding $300, or a surety bond. The surety bond shall be in the amount of $500 and signed by a reliable surety company. In case such bond is furnished, such bond shall be conditioned that principal and sureties will pay the license fee of $300, if the person remains or carries on business in the city less than 120 days.
(B) The Clerk-Treasurer will refund the cash bond and also the license fee that may have been paid if the transient merchant or solicitor remains in business continuously for longer than 120 days.
('80 Code, § 18-21)