§ 49.10.02. Right to require replacement of bonds or insurance.
Latest version.
If the city becomes aware of the financial condition of any bonding or insurance company
issuing a performance bond or insurance policy to provider or permittee as required
herein where, if such conditions were known at the time, the city would not have approved
the surety of the bond or the city's director of law would not have found the form
of the bond or the insurance policies satisfactory, or if the financial condition
of such bonding or insurance company materially change to the extent that such approvals
would not have been made, the city may, at any time, require that any such bond or
insurance policy be replaced with such other bond or insurance policy consistent with
the requirements set forth in this chapter.
(Ord. No. 0-149-18, § I, 12-10-2018)
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