§ 36-125. Bond required of applicant.

Latest version.

Every applicant for a license under this division shall execute and file with the license administrator a good and sufficient bond in the sum of $2,500.00, conditioned upon faithful observance of all the conditions of the license and the ordinances under which it is issued and indemnifying any purchaser at such public auction who suffers any loss by reason of misrepresentation in such sale. Such bond shall continue in effect for a period of three years after the date that the auction sale closes.

(Code 1964, § 6-34; Code 1988, § 36-121; Ord. No. 38347, § 2, 3-12-1953)

                    
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