Subd. 1. Proof. No alcoholic beverage license shall be issued or renewed unless and until the applicant has provided proof of financial responsibility, imposed by statute, by filing with the city:
A. A certificate that there is in effect an insurance policy or pool providing minimum coverages in accordance with M.S. § 340A.409(1), as amended from time to time;
B. A bond of a surety company with minimum coverages as provided in Subd. 1.A. above; or
C. A certificate of the State Treasurer that the licensee has deposited with him or her $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.
Subd. 2. Exception. This section does not apply to on-sale beer licensees with sales of beer or less than $25,000 for the preceding year, nor to off-sale beer licensees with sales of beer of less than $50,000 for the preceding year, nor does it apply to holders of on-sale wine licenses with sale of wine or less than $25,000 for the preceding year. An affidavit of the licensee shall be required to establish the exemption under this subdivision.
Subd. 3. Documents Submitted to Commissioner. All proofs of financial responsibility and exemption affidavits filed with the city under this section shall be submitted by the city to the Commissioner.
(Ord. 97, Third Series, passed 4-6-2004)