SECTION 26. License fees; bond

The fee for an original license and for a renewal of any license shall be determined annually by the commissioner of administration under the provision of section three B of chapter seven for the filing thereof. If a person fails to apply for a renewal of a license within six months after the expiration thereof he shall pay for a renewal the fee herein provided for an original license.

Each licensee shall give to the commissioner a bond in the sum of five thousand dollars, executed by the applicant as principal and by a surety company authorized to do business as such in the commonwealth as surety. Such bond shall be in such form as the commissioner may prescribe, conditioned upon the honest conduct of the business of the licensee and the right of any person including the officer of any aggrieved labor union or association, whether or not incorporated, injured by the wilful, malicious or wrongful act of the licensee to bring in his own name an action on the bond.