§ 20-479 Bond.
AC § 20-479
Editor's note: this section has been repealed by L.L. 2025/171, 11/28/2025, eff. 8/25/2026. Each storage warehouse operator shall file before receipt of a warehouse license and maintain with the department a surety bond in the sum of ten thousand dollars executed by the storage warehouse operator as principal, and a surety company authorized to do business in this city as surety, payable to the city of New York and conditioned upon the storage warehouse operator's compliance with the provisions of this subchapter and any regulations duly promulgated and upon the further conditions that the licensee will pay to the city any fine, penalty or other obligation within thirty days of its imposition and faithfully account in the manner required by law to the owners of all goods, wares, or other property that the storage warehouse operator receives, handles, stores or otherwise deals in as a storage warehouse operator. The commissioner may increase the amount of the bond required of storage warehouse operators.
