§ 118.06  INSURANCE REQUIRED.
   (A)   Any permittee of a permit issued pursuant to the terms of this chapter shall at all times during the life of such permit keep each motor bus operated by such permittee under such permit insured in a company authorized to do business in the state, indemnifying the permittee in the sums following:
      (1)   One hundred thousand dollars to pay, on behalf of the permittee, as named insured, all sums which the permittee shall become legally obligated to pay as damages because of bodily injury, including death at any time resulting therefrom sustained by any one person, and $300,000 where more than one person has been killed or injured caused by a single accident and arising out of the ownership, maintenance, or use of such motor bus.
      (2)   Fifty thousand dollars to pay, on behalf of the permittee, as named insured, all sums which the permittee shall become legally obligated to pay as damages because of injury to or destruction of property, including the loss of use thereof, caused by accident and arising out of the ownership, main- tenance, or use of such motor bus.
      (3)   Ten thousand dollars to pay, on behalf of the permittee, as named insured, in case of bodily injury to any one person from an accident caused by uninsured motorists, and $20,000 where more than one person has been killed or injured by an uninsured motorist.
      (4)   Two thousand five hundred dollars medical liability to be paid on behalf of the permittee, as named insured, in case of injury to passengers while boarding, riding, or exiting such motor bus.
   (B)   Such policies or certificates of insurance shall be approved by the City Attorney, and filed with the City Secretary prior to the commencement of business pursuant to such permit. All such policies or certificates shall remain in the possession of the City Secretary.  Any permittee shall immediately cease business pursuant to such permit upon notification that such policy or certificate has been cancelled and shall not resume business until a new policy or certificate complying with this section has been approved by the City Attorney and filed with the City Secretary. Provided, however, this section shall not apply to motor buses operating under the regulations of the Railroad Commission of the state which come into or pass through the city for the purpose of loading or unloading passengers.
('68 Code, § 9½-6) (Ord. 1398, passed 8-21-78)  Penalty, see § 10.99