Section 40. No person shall store fireworks in quantities except such as may be permitted by the rules and regulations of the board outside the premises of a fireworks manufactory in any building or other structure located within one thousand feet of any church, theatre, hall, place of assembly, factory or any inhabited building, nor shall any person manufacture fireworks, unless he has previously filed with the clerk of the city or town in which the said fireworks are to be manufactured or stored a bond running to the treasurer of the said city or town with a surety or sureties approved by the said treasurer, in such penal sum, not less than ten thousand dollars, as the mayor of the city or the selectmen of the town, with the approval of the marshal, shall determine to be necessary to cover the losses, damages or injuries that might ensue from the said manufacture or storage. The bond shall be conditioned upon the payment of any judgment obtained in an action against said person so manufacturing or storing fireworks for or on account of any loss, damage or injury resulting to persons or property by reason of the said manufacture or wholesale storage. Such person shall pay to the said clerk the fee provided by clause (16) of section thirty-four of chapter two hundred and sixty-two.