District of Columbia § 47-2884.04 Bond.

District of Columbia Statutes

§ 47-2884.04 — Bond.

District of Columbia § 47-2884.04

JurisdictionDistrict of Columbia

Title 47Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

Ch. 28General License Law.

Subch. IVOther Licenses.

Part BPawnbrokers.

This text of District of Columbia § 47-2884.04 (Bond.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 47-2884.04 (2026).

Text

(a)Each applicant shall file with his application a bond running to the District in the sum of $5,000 with 2 or more sufficient sureties, whose liability as such securities shall not exceed the said sum in the aggregate; except that the execution of any such bond by a fidelity or surety company authorized by the laws of the United States to transact business in the District shall be equivalent to the execution thereof by 2 sureties, but such company, if excepted to, shall justify in the manner required by law of fidelity and surety companies. Such bond shall be approved by the Mayor and conditioned upon the compliance by the applicant with all the provisions of this part and all rules and regulations lawfully made pursuant thereto. Any person injured by the noncompliance with any such pro

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(a) Each applicant shall file with his application a bond running to the District in the sum of $5,000 with 2 or more sufficient sureties, whose liability as such securities shall not exceed the said sum in the aggregate; except that the execution of any such bond by a fidelity or surety company authorized by the laws of the United States to transact business in the District shall be equivalent to the execution thereof by 2 sureties, but such company, if excepted to, shall justify in the manner required by law of fidelity and surety companies. Such bond shall be approved by the Mayor and conditioned upon the compliance by the applicant with all the provisions of this part and all rules and regulations lawfully made pursuant thereto. Any person injured by the noncompliance with any such provision, rule, or regulation by any licensee under this part may maintain a suit in his own name in any court of competent jurisdiction and recover on the bond such damages as shall be adjudged by such court together with costs of such suit. Recovery upon any such bond shall not preclude recovery against such licensee for any liability in excess of the amount recovered upon the bond, and such recovery shall not be held to extinguish any remedy under other law.

(b) The bond or bonds which the licensee is required to file hereunder shall be renewed and refiled annually at the time of making payment of the annual license fee. If the Mayor shall find that any such bond has for any reason become insecure or exhausted, an additional bond in the sum of not more than $5,000 shall be filed by the licensee within 10 days after written demand therefor by the Mayor.