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No license shall be issued by the Tax Collector to any such peddler until and unless such applicant shall have first filed with the Clerk of the Board of Supervisors, and the same has been approved by said Clerk, a liability insurance policy or bond executed by the applicant as principal and a surety company qualified and authorized to do business in California as surety in the sum of Five Thousand Dollars ($5,000.00) to adequately protect the interests of said County and the public in the particulars hereinafter set forth. The policy of insurance or bond shall bind the obligers thereunder so that such applicant shall fully comply with the provisions of this chapter and with the provisions of all other applicable Code section of said County, and statutes of the State of California, regulating or concerning the sale of the commodities or products mentioned in this chapter and shall pay all judgments rendered against such applicant for injuries to persons and loss or damage to property resulting from the negligent operation of the business of such peddler within the County. The policy of insurance or bond shall also pay all judgments recovered by any person against said applicant arising out of any misrepresentation or deception practiced upon any person transacting business with said applicant as such peddler within said County; and any person injured by such negligent operation of said business or having a claim or cause of action as herein provided shall have a right of action directly on said policy or bond. (Ord. 172, § 11, 3/14/1933)