§ 30-7. Bond or insurance.

Before any license shall be issued as provided in this chapter the applicant shall furnish to the city a good and sufficient surety bond or insurance policy. In the event of a bond it shall be signed by some good solvent bonding company authorized to do business in this state. In the event of an insurance policy, it shall be executed to some solvent insurance company authorized to do business in this state. The same shall be delivered to the chief of police for his approval. The surety bond or insurance policy shall be in the sum of three thousand five hundred dollars ($3,500.00) and shall be conditioned that the obligator therein will pay to the extent of the face amount of such surety bond or insurance policy all judgments which may be recovered against the private detective agency by reason of the wrongful or illegal acts of its servant, officer, agent or employee committed by him in the course of his employment. The surety bond or insurance policy shall further be conditioned that such person so injured shall have the right to sue directly upon such surety bond or insurance policy in his own name, for the collection of a judgment obtained against the principal in the bond, and the same shall be subject to successive suits for recovery until a complete exhaustion of the face amount thereof. Each such private detective shall, on or before the date of the expiration of his license to do business in the city, file a new surety bond or insurance policy containing the same terms or obligations of the preceding surety bond or policy as to provide continuous security to persons so injured, and in the event any such private detective fails to execute any surety bond or insurance policy in the first instance, or to execute any new surety bond or insurance policy, or to file the same with the chief of police as provided herein, it shall constitute grounds for revoking the license. Nothing herein shall be construed to authorize a private detective to have the power of peace officers in this city unless such power be conferred thereon under the provisions of such other law of this state or ordinance of this city.

(Ord. No. 608, § 6)