No taxicab or vehicle for hire shall be operated on the streets of the city unless the owner and driver thereof are protected by liability insurance issued by a company authorized to do business in the state which policy shall be in the sum required by state law. Such policy shall carry a rider requiring ten days’ notice to the city prior to cancellation of the policy, and satisfactory evidence shall be filed with the City Council showing that such insurance is in effect.
(1989 Code, § 7-329) Penalty, see §§ 7-390 et seq.