§ 18-312. Insurance required.

(a)

Before any license for a taxicab or bus shall be issued under the provisions of this article, the owner thereof shall file with the city clerk a sworn statement that he is carrying motor vehicle liability insurance on such vehicles, giving the number of the policy, the name and address of the company issuing such policy, and the amount of coverage. Such coverage shall contain stated limits of liability, exclusive of interests and costs with respect to each vehicle for which coverage is granted, not less than $25,000.00 because of bodily injury to or death of one person in any one accident, and subject to the limit for one person to a limit of not less than $50,000.00 because of bodily injury to or death of two or more persons in any one accident, and to a limit of not less than $10,000.00 because of harm to or destruction of property of others in any one accident.

(b)

Such policy shall be effective whether the taxicab at the time of accident was being driven by the owner, his agent, employee, lessee or licensee, and shall contain all conditions required by the laws of the state, and by the insurance commissioner of the state, and shall carry a uniform endorsement for actual notice to the city for any changes therein.

(c)

The insurance policy shall further provide that it cannot be canceled until five days' written notice of such cancellation shall have been filed with the city clerk. Upon any such cancellation of insurance policy, the license to use such taxicab or bus on the streets of the city shall be revoked.

(Prior Code(1), § 14-504; Prior Code(2), § 5.56.040; Ord. No. 1555, 1967; Ord. No. 3489, § 1, 1990)