§ 7.08.240. Insurance, bond or self-insurance plan—Effect on validity of license—License suspension when.
Latest version.
A.
Whenever this title requires the licensee or applicant for any license to procure,
post or maintain in effect any bond, undertaking, deposit, surety, policy of insurance
or approved self-insurance plan, any license so issued is good only while such bond,
undertaking, deposit, surety, policy of insurance or approved self-insurance plan
is in full force and effect. Such license shall be automatically suspended without
notice if at any time such bond, undertaking, deposit, surety or policy of insurance
is not in full force and effect, or at any such time as a self-insurance plan approved
by the business license commission fails to meet the requirements as set forth in Section 7.80.241.
