It shall be unlawful for any person to operate any taxicab whose operator is engaged in the business of transporting passengers for hire over the public streets of the town without first posting bond in the sum of $25,000 with the Town Administrator/Town Clerk or taking out liability insurance in the following minimum amounts for each taxicab:
(A) Fifty thousand dollars because of bodily injury to or death of one person in any one accident;
(B) Subject to the limit for one person, $100,000 because of bodily injury to or death of two or more persons in any one accident; and
(C) Twenty-five thousand dollars because of injury to or destruction of property of others in any one accident.
(Prior Code, § 14-5) Penalty, see § 10.99