Section 12 of chapter 138 of the General Laws, as most recently amended by section 3 of chapter 113 of the acts of 1998, is hereby further amended by adding the following paragraph:-
No license shall be granted to renewed under the provisions of this section until the applicant or licensee provides proof of coverage under a liquor legal liability insurance policy for bodily injury or death at a minimum limits of two hundred fifty thousand dollars on account of injury to or death of one person, and five hundred thousand dollars on account of any one incident resulting in injury to or death of more than one person.
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