(a) Each person, company, or corporation, making bonds andcharging therefor, within the City of Phenix City, for the release of personsheld by the city shall be required as a part of the qualification to dobusiness to post a cash deposit with the City of PhenixCity or to take out a certificate of deposit payableto the City of Phenix City, in the amount of any bonds made by any such person,company, or corporation.(b) The funds shall be held to guarantee the payment ofall sums of money that may be due to the City of PhenixCity by virtueof any judgment absolutebeing rendered against the person, company, or corporation as surety on anybond or bonds.(Act 81–427, p. 673, § 1.)
Alabama Legal Code