(A) Whenever the number of vehicles used is the basis, in whole or in part, for a license fee, the clerk shall furnish the licensee with a tag or sticker for each vehicle covered by the license, and such tag or sticker shall be posted or affixed in a conspicuous place on each such vehicle.
(B) Whenever any licensee under this chapter shall make use of one or more motor vehicles in the licensed activity, such licensee shall carry at all times public liability insurance with a responsive insurer qualified to do business in Illinois, to secure payment of loss or damage resulting from an occurrence arising out of or caused by the operation or use of any such vehicles, but each one shall be insured for the sum of at least five thousand dollars ($5,000.00) for property damage and the amount of at least fifty thousand dollars ($50,000.00) for injuries to or death of any one person, and for the sum of at least one hundred thousand dollars ($100,000.00) for injuries to or death of more than one person, in any one accident. Every insurance policy or contract for such insurance, shall provide for the payment and satisfaction of any final judgment rendered against the owner, or any person driving any insured vehicle; and that suit may be brought in any court of competent jurisdiction upon such policy or contract by any person having claims arising from the operation or use of such vehicles; it shall contain a description of each vehicle insured, manufacturer's name and serial number, the state license number and the municipal license number. (1978 Code)