(a) No license to operate any taxicab shall be issued and no person shall operate or permit the operation of any such taxicab unless the owner of the same shall deposit with the Secretary of the Taxicab Board a policy of an insurance company, duly licensed to transact such business in the State, insuring the owner of such taxicab and also any person operating the same in the City against loss from any legal liability for property damage resulting from the use of such taxicab, in an amount not less than ten thousand dollars ($10,000) for each taxicab, and also insuring the owner and operator of such taxicab against any loss from legal liability for damages caused by personal injuries, including death resulting from the use of such taxicab, in an amount not less than one hundred thousand dollars ($100,000) for the injury or death of one person and not less than three hundred thousand dollars ($300,000) for injuries or death to more than one person caused by any one accident, for each taxicab. Such insurance must be kept in full force and effect during the period for which the Taxicab Operating License is issued.
(b) Any such insurance policy shall be subject to the approval of the City Law Director as to its form and compliance with this chapter.
(Ord. 10-59-2002. Passed 10-1-02.)