The Division of Risk Management shall be authorized to prescribe the minimum levels and standards of liability insurance which must be maintained in order to apply for, to receive and to operate a franchise under this chapter and the manner in which compliance with the minimum standards is demonstrated. The failure to maintain the minimum levels and standards of liability insurance for any period of time is a violation of this chapter and shall be sufficient grounds for temporary suspension or termination of a nonexclusive franchise. (Ord. 5765 § 1; April 24, 2001: Ord. 6456 § 1 (part); January 15, 2019.)