A. Proof: No intoxicating liquor 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:
1. A certificate that there is in effect an insurance policy or pool providing minimum coverage of: a) fifty thousand dollars ($50,000.00) because of bodily injury to any one person in any one occurrence, and, subject to the limit for one person, in the amount of one hundred thousand dollars ($100,000.00) because of bodily injury to two (2) or more persons in any one occurrence, and in the amount of ten thousand dollars ($10,000.00) because of injury to or destruction of property of others in any one occurrence, and b) fifty thousand dollars ($50,000.00) for loss of means of support of any one person in any one occurrence, and, subject to the limit for one person, one hundred thousand dollars ($100,000.00) for loss of means of support of two (2) or more persons in any one occurrence; an annual aggregate of three hundred thousand dollars ($300,000.00) may be included in the insurance coverage; or,
2. A bond of a surety company with minimum coverage as provided in subsection A1 of this section; or,
3. A certificate of the State Treasurer that the licensee has deposited with him one hundred thousand dollars ($100,000.00) in cash or securities which may legally be purchased by savings banks or for trust funds having a market value of one hundred thousand dollars ($100,000.00).
B. Exception: This section does not apply to on-sale beer licensees with sales of beer of less than ten thousand dollars ($10,000.00) for the preceding year, nor to off-sale beer licensees with sales of beer of less than twenty thousand dollars ($20,000.00) for the preceding year, nor does it apply to holders of on-sale wine licenses with sales of wine of less than ten thousand dollars ($10,000.00) for the preceding year. An affidavit of the licensee shall be required to establish the exemption under this subsection.
C. Documents Submitted To Commissioner: All proof of financial responsibility and exemption affidavits filed with the City under this section shall be submitted by the City to the Commissioner. (1988 Code § 5.11)