It shall be unlawful for any owner or operator to drive or operate a taxicab or cause the same to be driven or operated in the city, and no license for the operation thereof shall be granted unless there is on file with the City Clerk and in full force and effect at all times while such taxicab is being operated, a policy of insurance approved by the City Attorney, with a solvent and responsible company authorized to do business in the state, insuring the owner of such taxicab (giving the manufacture number and state license number) against loss by reason of injury or damage that may result to persons or property from the negligent or defective construction of such taxicab, or for any other cause.
('61 Code, § 21.3) (Ord. 271, passed - - ; Am. Ord. 1016, passed - - ) Penalty, see § 10.99