Legal Documents of Newport

Each application for a permit required by this chapter shall be accompanied by a surety bond, or a personal bond executed by two (2) good and sufficient sureties who are bona fide residents of the city. The bond shall be payable to the city in the amount of five hundred dollars ($500.00) conditioned that the applicant shall comply fully with all the provisions of this code and the state law regulating solicitors and canvassers. It shall guarantee to all residents of the city that all money paid as a down payment will be accounted for and applied according to the representations made, that the property purchased will be delivered according to such representations and shall be as represented by the solicitor and that the solicitor will refund the purchase price of any goods sold by him which are not as represented. Action on the bond may be brought by the person aggrieved and for whose benefit, among others, the bond is given, but the surety may by paying, pursuant to order of the court, the face amount of the bond to the clerk of the court in which the suit is commenced, be relieved without costs of all further liability. (1973 Code, § 7-19)