§ 7.20.230. Bond or other security required.

Prior to the granting of any bingo manager license, the applicant organization whose games are to be directed by said bingo manager shall either:

A.

File and thereafter maintain with the tax collector a good and sufficient bond in the aggregate sum of $5,000.00 running to the county for the use and benefit of interested persons and parties, executed by the applicant organization and two or more responsible sureties, or a surety company authorized to do business in the state of California, which sureties or surety company shall be approved by the business license commission; or

B.

Assign to the county of Los Angeles, pursuant to Chapter 4.36 of this code, savings and loan certificates in the sum of $5,000.00.

(Ord. 11822 § 1 (part), 1978: Ord. 11488 § 1 (part), 1977: Ord. 5860 Ch. 23 Art. 2 § 3536, 1951.)