745.06 INSURANCE REQUIRED.

   Any person, firm, partnership or corporation prior to transporting persons for hire as hereinbefore described within the City, shall as a further requirement to the obtaining of a license for the transportation, submit to the Mayor for his approval or the approval of the Director of Law, an insurance policy indemnifying the operator and owner against loss or injury from negligent operation of such vehicle in the amount of not less than fifty thousand dollars ($50,000) for property damage and not less than one hundred thousand dollars ($100,000) for injury to one person, and not less than three hundred thousand dollars ($300,000) for injury to more than one person. Such insurance policy shall also provide five thousand dollars ($5,000) medical pay per person and one hundred thousand dollars ($100,000) per person/three hundred thousand dollars ($300,000) for more than one person for uninsured motorists coverage. A copy of the insurance policy or a certificate of the company or companies issuing the same shall be filed with the Mayor to become a part of the application.

   All insurance policies required under this chapter shall be effective during the entire period for which the license issued is effective. (Ord. 26-83. Passed 3-21-83.)