(A)   Any person, before being granted a license shall secure and file with the City Finance Officer a policy of liability and property damage insurance or surety bond covering the operation of each vehicle for which a license is sought.
   (B)   The bond or policy shall protect against liability to third persons for personal injuries and property suffered or sustained by them as a result of the operation of the vehicles and shall be in the amount of not less than $100,000 for one person, and not less than $300,000 for more than one person injured as a result of one accident, and not less than $50,000 for property damage.
(Prior Code, § 8-703) (Ord. 749-83, passed 5-23-1983; Ord. 1065-19, passed 5-20-2019) Penalty, see § 110.999