§ 10-288. Bond.

A bond is required to be filed with the city in a sum of not less than ten thousand dollars ($10,000.00). The bond shall be executed by the itinerant vendor as principal with two (2) or more good and sufficient sureties satisfactory to the collector of taxes. The bond shall be payable to the mayor of the city and his successors in office for the use and benefit of any person or persons entitled thereto and conditioned that the principal and surety will pay damages to person or persons caused by or arising from or growing out of the wrongful, fraudulent, or illegal conduct of the itinerant vendor while conducting the sale or exhibit in the city. The bond shall remain in full force and effect for the entire duration of the license as provided in section 10-290 and for four (4) months after the expiration of the license unless a suit is pending. If, at such date, any suit is pending against the transient merchant or itinerant vendor, the deposit or bond shall not be returned until sixty (60) days after the termination of the suit.

(Code 1955, § 19-3)

State law reference

Bond, R.S. 37:1903; bond subject to claims, R.S. 37:1904.