§ 4-47. Insurance.

(a)

Financial responsibility; certificate of insurance. Prior to the issuance of a liquor license, the applicant, if required to do so by law shall demonstrate proof of financial responsibility as defined in Minn. Stat. § 340A.409 with reference to liability under Minn. Stat. § 340A.801. Such proof shall be filed with the commissioner of public safety and with the city clerk. Any liability insurance policy filed as proof of financial responsibility under this section shall conform to law. The licensee shall provide the certificate and proof to the city clerk at the time he applies for a new license. The certificate of insurance shall show that all coverage meets or exceeds the requirements of law and that the insurance company cannot cancel said insurance until at least 30 days written notice of said cancellation has been served upon the city. If a new certificate of insurance is not filed with the city clerk during the 30-day period after notice of cancellation, the license to sell intoxicating liquor at retail shall be immediately suspended until a new certificate of insurance is filed with the city clerk and the commissioner of public safety.

(b)

Cause for revocation. Operation of a licensed business without having on file with the city at all times effective security as required by this article and state law is a cause for revoking the license.

(Code 1999, § 6.1.3(B), (C))

State law reference

Insurance requirements, Minn. Stat. § 340A.409; dramshop liability, Minn. Stat. § 340A.801.