(a) No license shall be issued under the provisions of this article unless the applicant for such license has first submitted proof of insurance in the form of a certificate of insurance issued by an insurer duly authorized to issue such policies in the state of Illinois.
(b) Such certificates shall show:
(1) That the applicant for a license has public liability and property insurance covering his operation within the village.
(2) Workers' compensation coverage of applicant's employees.
(3) The dates of expiration of such insurance and that the same shall not be canceled without at least ten (10) days' notice to the village manager.
(c) Upon the cancellation or expiration without renewal of such insurance, the license or permit issued hereunder to the insured shall be void.
(d) Such public liability insurance shall be in the amount of not less than three hundred thousand dollars ($300,000.00) per person injured, not less than five hundred thousand dollars ($500,000.00) for all personal injuries in any one accident, and not less than fifty thousand dollars ($50,000.00) for property damage in any one accident.
(e) Workmen's compensation insurance shall be in accordance with state law. (1963 Code § 17.704; amd. Ord. 0-70-33)