The owner of every taxicab shall maintain in effect a policy of liability insurance or equivalent bond for the taxicab which extends coverage in the amount of no less than $500,000 per person/$500,000 per accident or $500,000 single limit coverage. In addition, owner shall carry $100,000 property damage coverage. No license shall be issued under this chapter until proof of such insurance is furnished to the City Controller.
('75 Code, § 23-5; Am. Ord. 4674, passed 11-28-77; Am. Ord. 6250, passed 12-10-02) Penalty, see § 110.99