§ 7.86.050. License—Suspension following reduction of undertaking or deposit liability—Reinstatement.

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If the amount of liability under the bond is decreased or the amount of savings and loan shares is decreased for any reason, the license shall be automatically suspended. In order to reinstate the license, the licensee shall either file a new undertaking, restore the undertaking to the original amount, or deposit sufficient savings and loan shares to restore the original amount.

(Ord. 9807 § 7 (part), 1969: Ord. 5860 Ch. 2 Art. 17 § 736, 1951.)

                    
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