§ 7.24.430. License—Application—Bond or other security required.

At the time of filing with the commission an application for a license as a promoter, the applicant shall either:

A.

File and thereafter maintain with the commission a good and sufficient bond in the aggregate sum of $2,000.00, running to the county for the use and benefit of interested persons and parties, executed by the applicant 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 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 $2,000.00.

(Ord. 9678 § 2 (part), 1968: Ord. 5860 Ch. 18 Art. 6 § 3173, 1951.)