(A) Every person moving a building in the city shall file with the City Clerk a liability insurance policy issued by the solvent corporation holding a certificate of authority to do insurance business in the state, which policy shall conform in all respects to the requirements of this section.
(B) In lieu of filing the insurance policy herein referred to, a certificate of insurance issued by an insurance corporation may be filed. The certificate must show that a policy meeting the requirements of this section has been issued, and shall set forth the expiration date of said policy.
(C) The liability policy required under this section shall insure the person moving a building against loss from the liability imposed by law for injury to, or death of any person, or damage to any property growing out of the moving of such building to the amount or limit of $50,000, exclusive of interest and costs, on account of injury to or death of any one person, of $100,000 exclusive of interest and costs, on account of moving any one building resulting in injury to or death of more than one person, and of $25,000 for damage to property of others, resulting from moving any one building.
(1999 Code, § 33-9-7)