The resident must maintain a license to operate the family day care business and must provide the rental property owner with a written notice prior to operation of the day care business. (The owner, however, cannot prohibit the operation of the day care business by the resident.) The resident must also do one of three things: (1) purchase liability insurance covering injury to children or guests; (2) purchase a bond in the aggregate amount of three hundred thousand dollars; or (3) maintain a file of affidavits signed by each parent that demonstrates that the parents have been informed that the resident does not carry liability insurance or a bond.