§ 10.12  BOND AND INSURANCE.
   (a)   For RDUs, no license shall be issued or continued in operation unless a performance and payment bond has been furnished pursuant to M.S. § 574.26 through 574.32, as may be amended from time to time. Licensees must show proof of the continuation of the performance and payment bond annually prior to renewal of a license.
   (b)   For RDUs and Non-RDUs, no license shall be issued or continued in operation unless there is in full force and effect a business automotive liability insurance policy for each vehicle licensed with a minimum limit of $1,000,000 for bodily injury to any one person, or in any amount required by contact; with a minimum limit of $1,000,000 for injuries to more than one person which are sustained in the same accident, or in an amount required by contract; and with a minimum limit of $1,000,000 for property damage resulting from any one accident, or in an amount required by contract. Said insurance shall inure to the benefit of any person who shall be injured or who shall sustain damage to property proximately caused by the negligence of a holder, his or her servant, or agents. A certificate of insurance conveying the aforementioned insurance shall be issued in favor of the city and shall be filed in the License Section. This certificate shall contain a thirty-day notice of cancellation.
   (c)   For RDUs and Non-RDUs, no license shall be issued or continued in operation unless there is in full force and effect a commercial general liability insurance policy with a minimum limit of $1,000,000 per occurrence, and $1,000,000 annual aggregate, or in amounts required by contract. Said insurance shall inure to the benefit of any person who shall be inured or who shall sustain damage to property proximately caused by the negligence of a holder, his or her servant, or agents. A certificate of insurance conveying the aforementioned insurance shall be issued in favor of the city and shall be filed in the License Section. This certificate shall contain a thirty-day notice of cancellation.
(1958 Code, § 115.04G)  (Ord. 74-90, passed 11-18-1974; Ord. 75-54, passed 11-3-1975; Ord. 89-19, passed 3-27-1989; Ord. 2015-45, passed 12-21-2015; Ord. 2017-20, passed 6-26-2017; Ord. 2020-34, passed 10-19-2020)