Any person who sustains any injury covered by the bond may, in addition to any other
remedy which he may have, bring an action in his own name upon the said bond for the
recovery of any damage sustained by him. Upon such action being commenced, such bond
shall not be void upon first recovery thereon but may be sued upon from time to time
until the whole of the penalty shall be exhausted. The commission may require the
filing of a new bond, and immediately upon the recovery in any action on such bond,
the promoter shall file a new bond or assign savings and loan certificates to the
county as provided for in this Part 6. Upon failure to file a new bond or assign savings
and loan certificate within 10 days in either case, the commission shall forthwith
suspend such promoter's license.
