Each vehicle and operator regulated by this chapter must be covered by a policy of liability insurance issued by a corporate insurer licensed to do business in the state, such policy providing limits of coverage not less than the maximum liability of municipalities as set forth in the state’s Tort Claim Act (Tex. Civil Practice and Remedies Code § 101.023), as amended. Such insurance coverage shall be obtained from a reliable insurance company having a permit to do business in the state and such company and such policy shall be subject to the approval of the City Secretary. Proof of such insurance coverage shall be furnished the City Secretary before a license for the taxicab shall be issued under this chapter. The carrying of such liability insurance coverage shall be a prerequisite for the holding of a valid license to operate a taxicab in the city; and if, for any reason at any time, any operator of a taxicab does not have such liability insurance coverage in effect, any license that may have been previously issued to such operator shall immediately become null and void and of no further effect.
(2012 Code, § 92-35) Penalty, see § 10.99