§ 7.24.470. Savings and loan certificates as surety—Conditions.

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If in lieu of a bond an applicant or promoter assigns to the county savings and loan certificates, he shall agree in writing that if the commission finds that any donor or any person on whose behalf funds or personal property were solicited or received by the promoter, sustains any pecuniary loss through any act of grand or petty theft on the part of the promoter, the county may redeem a sufficient number of such certificates and from the proceeds reimburse such person for loss sustained.

(Ord. 9678 § 2 (part), 1968: Ord. 5860 Ch. 18 Art. 6 § 3177, 1951.)

                    
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