(A) Whenever insurance is required by a section of this title, before the license shall issue, the applicant shall file with the City Administrator a policy or certificate of public liability insurance showing:
(1) That the limits are at least as high as required;
(2) That coverage is effective for at least the license term approved; and
(3) That the insurance will not be cancelled or terminated without 30 days written notice served upon the City Administrator.
(B) Cancellation or termination of the coverage shall be grounds for license revocation.
(1998 Code, § 5.10)