5.10.070 Surety Bonds.
Each applicant for a peddler's or solicitor's license shall file with the Auditor a surety bond naming the County as obligee in the penal sum of $1,000.00 if such licensee has ten or less employees, or $2,000.00 if such licensee has more than ten employees, and conditioned as follows:
A. That the principal, its employees and agents, will comply with the terms of this Chapter and all other applicable license and consumer protection ordinances;
B. To save harmless and indemnify all persons who shall suffer loss or damage on account of the failure of the principal or any of its employees or agents to comply with the terms of this and other applicable license and consumer protection ordinances, or to deliver commodities or services in accordance with any agreement or contract made with such persons, and such persons shall have a right of action on such bond for any such loss or damage;
C. That the aggregate liability of the surety for all claims against such bond shall not exceed the penal amount thereof;
D. That the liability of the surety may be terminated by the surety by service of written notice upon the Auditor not less than 15 days prior to the effective date of such termination;
E. That no claim shall be made against such bond more than one year following the time when the claimant became aware, or should have become aware, of the facts upon which such claim is based; provided, that in lieu of such bond, any applicant may file with the Auditor a deposit consisting of cash or other security acceptable to the Auditor.
Any person having an unsatisfied final judgment against the applicant for any items referred to in this Section may execute upon the security held by the Auditor by serving a certified copy of the unsatisfied final judgment by registered or certified mail upon the Auditor within one year of the date of entry of such judgment. Upon the receipt of service of such certified copy, the Auditor shall pay or order paid from the deposit, through the registry of the Superior Court which rendered judgment, toward the amount of the unsatisfied judgment. The priority of payment by the Auditor shall be the order of receipt by the department, but the department shall have no liability for payment in excess of the amount of the deposit.
The Auditor may promulgate rules and regulations necessary for the proper administration of the security.