The text
(a)
No license shall be issued under this article until the applicant files with the city a surety bond executed by such applicant, with two or more sureties, or by a surety company authorized to do business in this state, in the sum of $5,000.00 conditioned for the faithful and honest conduct of the business of private detective. Such bond as to its form, execution and sufficiency of the sureties shall be approved by the city council.
(b)
The bond requirement of this article shall not be required of private detectives presently operating with a valid private detective license but shall be required as a condition precedent to renewal of any such detective license.
(c)
The bond required shall be taken in the name of the people of the state and every person injured by the wilful, malicious or wrongful act of the principal may bring an action on the bond in his own name to recover damages suffered by reason of such wilful, malicious or wrongful act.
(d)
Every licensee shall at all times maintain on file the surety bond required by this article in full force and effect, and upon failure to do so the license of such licensee shall be forthwith suspended until such a bond is furnished.
(Rev. Ords. 1987, § 8-272)