Bond required.
Oklahoma City Municipal Code § 52-73
in effect§ 52-73. - Bond required.
Where the Director believes that any operator is about to cease business, leave the state, or remove or dissipate assets, or is habitually late in filing reports and/or payments three of the latest six months, or for any other similar reason he/she deems it necessary in order to protect revenues under this article, he/she may require such operator to file with the City a bond issued by a surety company authorized to transact business in this State in such amount as the Director may fix to secure the payment of any tax or penalties and interest due, or which may become due from such operator. In the event that the Director determines that an operator is to file such bond, he/she shall give notice to such operator specifying the amount of bond required. The operator shall file such bond within five days after the giving of such notice unless, within such five days, the operator shall request in writing a hearing before the City Council, at which the necessary propriety and amount of the bond shall be determined by the City Council. Such determination shall be final and shall be complied with within 15 days thereafter. In lieu of such bond, securities approved by the Director, or cash in such amount as he/she may prescribe, may be deposited with the Director, who may at any time, after five days notice to the depositor, apply them to any tax or penalties and interest due and for that purpose the securities may be sold at private or public sale.
(Code 1970, § 14-70; Code 1980, § 52-58; Ord. No. 22729, § 1, 5-24-05)
Source: City of Oklahoma City, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ok/oklahoma_city/codes/code_of_ordinances?nodeId=OKMUCO2020_CH52TA_ARTIIIHOTA_S52-73BOREFetched: 10/28/2026