21:3-5 - Surety by licensee - New Jersey Statutes

21:3-5.  Surety by licensee
    The governing body of the municipality shall require surety which may be cash, government bonds, personal bond, or other form of insurance in a sum of not less than twenty-five hundred dollars ($2,500.00), conditioned for the payment of all damages, which may be caused either to a person or persons or to  property, by reason of the display so as aforesaid licensed, and arising from  any acts of the licensee, his agents, employees or subcontractors.  Such surety  shall run to the municipality in which the license is granted, and shall be for  the use and benefit of any person, persons, or the owner or owners of any  property so damaged, who is or are authorized to maintain an action thereon, or  his or their heirs, executors, administrators, successors or assigns.

     Amended by L.1946, c. 81, p. 287, s. 1, eff. April 16, 1946.