(A) Whenever insurance is required by a section of this chapter, after approval by the Council, but before the license shall issue, the applicant shall file with the City Administrator/Clerk-Treasurer a policy or certificate of public liability insurance showing that:
(1) The limits are at least as high as required;
(2) Coverage is effective for at least the license term approved; and
(3) The insurance will not be cancelled or terminated without 30 days’ written notice served upon the City Administrator/Clerk-Treasurer.
(B) Cancellation or termination of the coverage shall be grounds for license revocation.
(1989 Code, § 6.10)