§ 7.86.040. Undertaking or deposit—Conditions.

The undertaking or contract accompanying the deposit shall provide that the licensee and surety will indemnify any person whose vehicle is accepted by the licensee for parking or storage by reason of theft or other unlawful taking, or for damages to such vehicle for which the licensee is legally liable. Such undertaking shall provide that it will be continuous, until cancelled by a 30-day written notice, and that it will cover each and every annual license issued to the principal named until so cancelled. Notice of cancellation shall be sent by certified or registered mail to the tax collector not less than 30 days prior to the date of cancellation. Such contract shall make the same provisions except that it is not subject to cancellation.

(Ord. 9807 § 7 (part), 1969: Ord. 5860 Ch. 2 Art. 17 § 735, 1951.)