No license shall be issued unless the applicant has filed with the County Executive or his designee a bond of one thousand dollars ($1,000) to be approved by the Prosecutor as to form and surety, which bond shall be conditioned upon the faithful observance of the provisions of County ordinances and State laws relating to the business of the ticket broker or applicable thereto. Such bond shall contain a further provision that the applicant shall pay all final judgments recovered against him by reason of any damage sustained on account of the violation of such ordinances or laws or because of any misrepresentation or deception which may have been practiced on the person securing such judgment by the licensee for or on account of the business so licensed. The bond shall further provide for continuing liability thereunder to the full amount thereof, notwithstanding any recovery thereon, and that the surety shall be obliged to give ten days notice in writing to the Executive before cancellation.
(Ord. 87-375. Approved 7-9-87.)