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<br /> <br /> <br /> Ordinance Number 32 <br /> <br /> P age ,,'~4 <br /> <br /> - Sectian 3e (eontinued) <br /> <br /> S-abditrision le (conLinued) <br /> Applications for an "on sale" or "off <br /> sale" lieense on behalf of the corporm <br /> ation sha11 include 9 in addition to <br /> sucYi other info mation as to the names, <br /> addre s ses, and o c cup at i on sof the <br /> ~ stockholders and officers of #,he cor- <br /> porationa The tr-µnsfer of° stock in an,y <br /> eorparation halding an "on sal-e" or <br /> r'of'f sale" liquor Iicense in this Vi1- <br /> lage shall be deemed a transfer vtithin <br /> the me aning of this ord inance S an.d na <br /> suvh transfer of stock shall be made <br /> witYa.out the consent of the "U'ouneilo <br /> It is hereby made the duty of the ofllim <br /> cers of any corpordtion holding such a <br /> lieense to no tify the Council of any <br /> proposed sa3e or trar?sfer of any stack <br /> in sueh eQrpo ratio ne The transfer of <br /> any such st o ek wi thout the knoi~ile dge <br /> and consent cf the Cauncil shall be <br /> de°med sufficient cause f'or revocat ion <br /> by the Cou.ncil af° any license granted <br /> to such corporation under the ax thority <br /> of this ordi nance e In addi tion the <br /> corporate officers shall alsQ notify <br /> the Council whenever anv change i smade <br /> in tY:e of'f'icers of any suGh carporationg <br /> and f"a:ilure to scs notify the Couneil <br /> shall 1ikevrise be suffzcient c.,a.se for <br /> revQcation of any liquor 3.icense granted <br /> to svch corparatiano <br /> Subdivisian 2. Asurety bond, liability insurance policy., <br /> or in 13eu thenuaf cash ar United States <br /> Gmrernment Bonds of eqixivalent rnarket <br /> value shall ai:company each applic at ion <br /> for a license, the amota.nt recoverable <br /> tc be me asured by tre a~tua1 day::age s; <br /> provided, ho,,T,ever, that, in nc~ case sha11 <br /> sueh surety be liablefor an,y amount in <br /> exce ss of the penaZ amount of the b ona <br /> or polic,ya - <br /> Al1 such bonds or policie s shal'L be for <br /> the ber!efit of the dblic-ee ard all <br /> persons suff ering damuge s bjr reason of <br /> the breach of the car::dit;Qns of the <br /> ~ bonda 1'rz the c- -Nr-, n t o f the i o r f e i t i i r e <br /> of an;T such bor3d or paiicy for viala- <br /> tion ai 1~~~ ~the o.istrict court may <br /> forf eit th~e pe-yial sum of° the boiad or= <br /> policy or any part of it to tl--e state <br /> of the Vil1age of Arden Hil1sA <br /> Subdivision 3. The security affered under Subdi-~,riszan <br /> ` 2 shall be appmved by the Village <br /> Council and in the case of apr%i.icants <br /> for "of°f sale" licenses by the State <br /> Liquor Coritrpl Gpmmissionere Surety <br /> bonds and liability i.nsuranee po licie s <br /> shall be approved as to forrn b:3 the <br />