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of one (1) person, Three Hundred Thousand Dollars <br />($300,000.00) for loss of means of support of two (2) or <br />more persons in any one (1) occurrence (an annual aggregate <br />policy limit for dram shop liability of not less than Three <br />Hundred Thousand Dollars ($300,000.00) per policy may be <br />included in the Policy Provision); or <br /> <br />B. A bond of a surety company with minimum coverages as <br />provided in subparagraph A of this Section; or, <br /> <br />C. A certificate of the State Treasurer that the licensee <br />has deposited with him One Hundred Thousand Dollars <br />($100,000.00) in cash or securities which may legally be <br />purchased by savings banks or for trust funds having a <br />market value of One Hundred Thousand Dollars ($100,000.00). <br /> <br />2. Liability Insurance Policy Cancellation. A liability <br />insurance policy required by this section must provide that it <br />may not be canceled for: <br /> <br />A. any cause, except for nonpayment of premium, by either <br />the insured or the insurer unless the canceling party has <br />first given 30 days' notice in writing to the issuing <br />authority of intent to cancel the policy; and <br /> <br />B. nonpayment of premium unless the canceling party has <br />first given ten days' written notice of intention to cancel <br />to the municipality's City Clerk. <br /> <br />3. Insurance Not Required (Exception). This Section does not <br />apply to licensees who by affidavit establish that: <br /> <br />A. they are on-sale 3.2 percent malt liquor licensees <br />with sales of less than Twenty Five Thousand Dollars <br />($25,000.00) of 3.2 percent malt liquor for the preceding <br />year; <br /> <br /> B. they are off-sale 3.2 percent malt liquor licensees <br />with sales of beer of less than Fifty Thousand Dollars <br /> ($50,000.00) of 3.2 percent malt liquor for the preceding <br />year; <br /> <br />C. they are holders of on-sale wine licenses with sales <br />of wine of less than Twenty Five Thousand Dollars <br />($25,000.00) for wine for the preceding year. <br /> <br />4. Documents Submitted to Cox~missioner. Ail proofs of <br />financial responsibility and exemption affidavits filed with the <br />City under this Section shall be submitted by the City to the <br />Minnesota Commissioner of Public Safety. <br /> <br /> <br />