A.   No license shall be granted to any applicant until such applicant shall furnish evidence satisfactory to the Local Commissioner that such applicant is covered by a policy of liquor liability insurance with coverage limits not less than one million dollars ($1,000,000.00) per person and per occurrence.
   B.   Each licensee shall furnish the Local Commissioner with a certificate of such insurance prior to the issuance of the license and annually. In the event of a cancellation, the Local Commissioner or Village Manager shall be notified immediately of such cancellation. The failure to secure and continuously maintain insurance coverage as stated herein shall be grounds for the immediate suspension of business activities and/or revocation of the liquor license by the Local Commissioner. (Ord. 99-2077, 2-22-1999)