Prior to the issuance of the registration certificate required by this subchapter, the applicant for registration must deposit with the Clerk-Treasurer a bond in the penal sum of $500, executed by a surety company of two freeholders of land located within the city or a cash bond of equal amount, conditioned that all goods, wares, merchandise, services, insurance policies or subscriptions, not as represented, will be refunded by the application for registration. Any person aggrieved by the action of the registrant shall have a right of action on the bond for the recovery of money or damaged or both. In the event a cash bond is deposited, the bond shall be retained by the Clerk-Treasurer for 90 days after the expiration of the registration certificate in connection with which the bond was deposited.
(Ord. 1984-2, passed 5-1-84) Penalty, see § 110.99