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(A) No license shall be granted to any applicant until such applicant shall furnish evidence satisfactory to the Local Liquor Control Commissioner that such applicant is covered by a policy of liquor liability insurance.
(B) No license shall be issued to any applicant until such applicant shall furnish bond with a corporate surety, such corporate surety to be a surety company authorized to act as surety and to be approved by the Local Liquor Control Commissioner. Such bond shall provide against any violation by the principal, his agents or employees of any of the terms of this chapter, rules and regulations now in force or which may hereafter be in force in the Village affecting the operation of such business. The penalty of such bond shall be one thousand dollars ($1,000.00). (Ord. 99-O-26, 10-25-1999)