7-21-2306. Bond required if deposit taken on orders for future delivery. (1) Every application made by an itinerant vendor taking orders for future delivery and collecting advance payments, deposits, or guarantees thereon under the terms of 7-21-2301 through 7-21-2305 shall be accompanied by a bond in the sum of $250 to said county treasurer.
     (2) (a) The bond shall be executed by a surety company licensed to do business in this state or by two responsible freeholders residing in the county and whose names appear upon the assessment roll of said county.
     (b) In lieu of a bond meeting the requirements of subsection (2)(a), the application may be accompanied by a cash bond of equal amount.
     (3) The bond shall be approved by said county treasurer and conditioned upon making of final delivery of the goods ordered or the services to be rendered in accordance with the terms of such order or, failing therein, that the money advanced by his customers be refunded.
     (4) Such bond shall remain in full force and effect for a period of 6 months after the expiration of any such license and shall be held to assure only business transacted under the authority of the license issued pursuant to the application which such bond accompanied.

     History: En. Sec. 4, Ch. 184, L. 1925; re-en. Sec. 2429.19, R.C.M. 1935; R.C.M. 1947, 84-3105(part); amd. Sec. 14, Ch. 220, L. 1985.