(A) Proof. No beer, wine, or liquor license shall be issued, or renewed, unless, and until, the applicant has provided proof of financial responsibility imposed by state statutes by filing with the city:
(1) A certificate of insurance providing at least $50,000 of coverage because of bodily injury to any one person in any one occurrence; $100,000 because of bodily injury to two, or more, persons in any one occurrence; $10,000 because of injury to, or destruction of property, of others in any one occurrence; $50,000 for loss of means of support of any one person in any one occurrence; $100,000 for loss of means of support of two, or more, persons in any one occurrence; $50,000 for other pecuniary loss of any one person in any one occurrence; and $100,000 for other pecuniary loss of two, or more, persons in any one occurrence;
(2) A bond of a surety company with minimum coverages, as provided in division (A)(1) above; or
(3) 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.
(B) Exception. This section does not apply to on-sale beer licensees with sales of beer of 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 sales of wine of less than $25,000 for the preceding year. An affidavit of the licensee shall be required to establish the exemption under this division (B).
(C) 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 State Commissioner of Public Safety.
(Prior Code, § 5.13) (Ord. 52, second series, passed 11-6-1984; Ord. 70, second series, passed 3-18-1986; Ord. 156, second series, passed 10-20-1998; Ord. 15, third series, passed 9-21-2010)