§ 3-35. Bond; insurance.

No license shall be issued by the local liquor control commissioner under this article unless the licensee shall first deposit with him a bond in double the amount of the license fee required to be paid, the bond to have corporate or individual sureties satisfactory to the commissioner and approved by him and the bond to be conditioned upon the compliance with the provisions of this chapter, all other ordinances and regulations of the city and the laws of the state and of the United States. A new bond shall be required at each license renewal. Each licensee shall furnish and keep in effect at all times dram shop insurance within the limits of liability provided in section 6-21 of the Dram Shop Act (235 ILCS 5/6-21), and shall provide the city with a certificate of insurance showing the insurance is in full force and effect continuously during the term of any license issued under this article.

(Code 1966, § 19.12; Ord. No. 89-O-027, § 1(19.12), 8-21-89)