In the absence of the showing that the licensee or franchisee has complied with comparable requirements imposed by the county, the licensee or franchisee shall show financial responsibility or a certificate of insurance coverage prior to obtaining his or her license or franchise whereby each vehicle to be used by the licensee or franchisee shall be covered against loss of injury in the following amounts: $25,000 when the claim is 1 for death by wrongful act or omission and $50,000 to any claimant in any other case: $300,000 for any number of claims arising out of a single occurrence. The licensee or franchisee shall also provide evidence of Worker’s Compensation Insurance for employees. The insurance policy shall be for the full term of the license or franchise and shall provide for the giving of 10 days prior notice to the city of the termination or cancellation of the policies. In case any of the policies are terminated, the license or franchise shall be automatically revoked upon receipt by the City Clerk/Treasurer of the termination or cancellation.
(Prior Code, § 201.06)