§ 11-4. Surety bonds.

(a) Bond required.

Every person, firm, or corporation so licensed as aforesaid, shall, at the time of receiving such license, enter into an obligation to the Mayor and City Council of Baltimore with good and sufficient sureties to be approved by the Comptroller of the City of Baltimore in the penal sum of $50,000, conditioned on the faithful observance of this subtitle, and such other ordinances as may be passed on this subject.

(b) Penalty for noncompliance.

Any pawnbroker who shall violate this section by failure to file such bond, or to obtain the license as aforesaid, though continuing to transact the business of a pawnbroker, shall be deemed guilty of a misdemeanor and shall be subject to the penalties imposed in § 11-19 of this article.