(A) No certificate of public convenience and necessity shall be issued or continued in operation until there is in full force and effect an insurance policy for each vehicle, in the amounts required in division (B) of this section governing vehicles used by passengers for hire. A copy of said policy or policies of public liability and property damage shall be submitted to the Finance Department. All insurance policies shall be kept in full force and effect by the applicant at all times. Failure to file such policy with the City Finance Department shall automatically suspend the certificate of public convenience and necessity until such time as the insurance policy or policies are submitted to the Finance Department for its approval.
(B) The following is the minimum insurance coverage for the city:
Public Property
Type of Liability Damage
Vehicle Policies Amount Policies Amount
Jitneys $50,000/$100,000 $5,000
('72 Code, § 33-19) (Ord. 1717, passed - - ; Am. Ord. 1721, passed - - ; Am. Ord. O-71-46, passed 4-21-71; Am. Ord. O-76-74, passed 9-29-76) Penalty, see § 126.999