For each taxicab, liability and property damage insurance shall be in effect for each taxicab or other such vehicle for hire a policy or policies of insurance as required by G.S. § 20-280, as amended. Such policy or policies shall be filed with the Chief of Police or his designee as a condition precedent to the operation of any such vehicle over the streets of the town. Each insurance policy or policies shall, among other things, set forth a description of each and every taxicab operated under the terms of such policy or policies, including the make, model and vehicle identification number of each and every such taxicab. The owner of a taxicab company with an insurance policy as required herein shall provide the Chief of Police or his designee with a certificate of insurance confirming coverage of the items listed in this section and shall not allow such coverage to lapse. Notice of cancellation of this insurance coverage shall be provided to the Chief of Police or his designee by the insurance carrier five days prior to any cancellation of the policy or policies.
(Ord. 93-14, passed 12-13-93)