5.12 - Financial Responsibility of Licensees
9 5.12
Section 5.12: Financial Responsibility of
Licensees
Subdivision 1. Proof
No alcoholic beverage license shall be issued or renewed unless and until the
applicant has provided proof of financial responsibility, imposed by Statute, by filing
with the City:
Source: City Code
Effective Date: 6-30-88
A. A certificate that there is in effect an insurance policy or pool providing
minimum coverage of:
Source: Ordinance No. 180, 2nd Series
Effective Date: 6-11-98
1. Fifty thousand dollars ($50,000) because of bodily injury to anyone (1)
person in anyone (1) occurrence, and, subject to the limit for one (1)
person, in the amount of one hundred thousand dollars ($100,000)
because of bodily injury to two (2) or more persons in anyone (1)
occurrence, and in the amount of ten thousand dollars ($10,000) because
of injury to or destruction of property of others in anyone (1) occurrence,
and,
Source: City Code
Effective Date: 6-30-88
2. Fifty thousand dollars ($50,000) for loss of means of support of anyone
(1) person in anyone (1) occurrence, and, subject to the limit for one (1)
person, one hundred thousand dollars ($100,000) for loss of means of
support of two (2) or more persons in anyone (1) occurrence; an annual
aggregate of three hundred thousand dollars ($300,000) may be included
in the insurance .coverage; or,
B. A bond of a surety company with minimum coverage as provided in
Subparagraph A of this Subdivision; or,
Source: Ordinance No. 180, 2nd Series
Effective Date: 6-11-98
C. A certificate of the State Treasurer that the licensee has deposited with the State
Treasurer one hundred thousand dollars ($100,000) in cash or securities which
may legally be purchased by savings banks orfor trust funds having a market
value of one hundred thousand dollars ($100,000).
Source: City Code
Effective Date: 6-30-88
Golden Valley City Code
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95.12
Subdivision 2. Exception
This Section does not apply to on-sale non-intoxicating malt liquor licensees with
sales of non-intoxicating malt liquor of less than ten thousand dollars ($10,000) for
the preceding year, nor to off-sale non-intoxicating malt liquor licensees with sales
of non-intoxicating malt liquor of less than twenty thousand dollars ($20,000) for
the preceding year. An affidavit of the licensee shall be required to establish the
exemption under this Subdivision.
Source: Ordinance No. 55, 2nd Series
Effective Date: 1-17-91
Subdivision 3. Documents Submitted to Commissioner
All proofs of financial responsibility and exemption affidavits filed with the City
under this Section shall be submitted by the City to the Commissioner.
Source: City Code
Effective Date: 6-30-88
Golden Valley City Code
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