05-22-1996 Council Agenda - Laserfiche WebLink

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Public Safety where required under Minnesota Statutes Section 340A.409. Proof of financial responsibility shall be required prior to the issuance of any intoxicating liquor license, including temporary on -sale licenses, regardless of the provisions of Minnesota Statutes Section 340A.409, Subdivision 4. Any liability insurance policy filed as proof of financial responsibility under this subdivision shall conform to the requirements of Minnesota Statutes Section 340A.409. The minimum requirement for proof of financial responsibility may be given by filing: (a) a certificate that there is in effect for the license period an insurance policy or pool providing at least $50,000 of coverage because of bodily injury to any one person in any one occurrence, $100,000 because of bodily injury to two or more persons in any one occurrence, $10,000 because of injury to or destruction of property of others in any one occurrence, $50,000 for loss of means of support of any one person in any one occurrence, and $100,000 for loss of means of support of two or more persons in any one occurrence; or (b) a bond of a surety company with minimum coverages as provided in paragraph (a); or (c) a certificate of the state treasurer that the licensee has deposited with the state treasurer $100,000 in cash or securities which may legally be purchased by savings banks or for trust funds having a market value of $100,000. (7) Approval of Security. Liability insurance policies required by this Chapter shall be approved as to form by the City Attorney. Operation of a business licensed by this ordinance without having on file with the State Insurance Commissioner or the City at all times effective security as required in Subdivision 2 is cause for immediate revocation or suspension of the license. (8) Special Event on City Property: A liability insurance policy for a special event to be held on City property shall name the City as an additional insured. 703.050. LICENSE FEES. (1) Each application for a license shall be accompanied by a receipt for payment in full of the required fee for the license. All fees shall be paid into the general fund of the City. Upon rejection of any application for a license, the Deputy City Clerk shall refund the amount paid. (2) Every license except a temporary license shall run for a period of one (1) year from July 1 in each year. A temporary on -sale license shall run for a specified period pursuant to Section 703.110. - - _ - . If a portion of the license year has elapsed when the license is granted, the 703 -4 Page 67