Every person applying for a license to conduct the business of a pawnbroker shall first effect an insurance policy against fire for $50,000 for the protection of goods, pawned or pledged.

24 Del. Laws, c. 162, § ?4; Code 1915, § ?1199; Code 1935, § ?1385; 24 Del. C. 1953, § ?2306; 75 Del. Laws, c. 284, § ?1; 81 Del. Laws, c. 102, § 8;