(A) Surety bond.
(1) The applicant’s employer or principal or if none, the applicant himself or herself shall, before a permit is issued to the applicant, file with the city a surety bond in the amount of $10,000 covering the applicant’s employer or principal, as the case may be, or if none the applicant himself or herself. If more than one employee or agent of an employer or principal is issued a permit under this chapter the bond shall cover all such employees or agents. The bond shall condition that the applicant shall comply fully with the ordinances of the city and statutes of the slate regulating the solicitors, and guaranteeing to the residents of the city that all money paid to the applicant or his or her employer or principal will be accounted for or applied according to the representations of the applicant, and further guaranteeing to the residents of the city doing business with the applicant that the property purchased will be delivered according to the representations of the applicant. Actions on such bond may be brought by the person aggrieved and for whose benefit among others the bond is given.
(2) Any person injured by the breach of conditions of such surety bond may make application to the city to recover legal damages suffered by reason of such breach; provided that, the aggregate recovery from such surety bond for all such damages shall, in no event; exceed the sum of said surety bond. Where the legal damage suffered by an injured person exceeds the amount recovered by the surety bond, such partial recovery shall, in no way, prejudice the right of the injured person to proceed directly against the solicitor for such excess damages.
(B) Cash bond removed as of July 17, 2021.
(Ord. 3775, passed 9-4-2012; Ord. 4186, passed 7-6-2021)