(A) No license to operate any public vehicle shall be issued or renewed by the Clerk, and it shall be unlawful to operate any public vehicle, or permit such to be operate, unless and until the applicant shall deposit with the Clerk a policy, or policies, of liability insurance issued by a responsible insurance company, approved as to sufficiency by the treasurer, and as to legality by the Law Director providing indemnity for or protection to the insured, against loss in the amounts provided for in § 117.07 and agreeing to pay, within the limits of the amounts fixed in the section, to any judgment creditor who shall have filed notice of a claim for such loss with the Finance Director during the license year in which the injury occurred, or six months thereafter, any final judgment rendered against the insured by reason of the liability of the insured to pay damages to others for bodily injuries, including death at anytime resulting therefrom, and for damages to or destruction of property sustained during the term of the policy by any other person than the insured, and employees of the insured, and resulting from negligent operation, maintenance or use of such licensed public vehicle.
(B) The policy of insurance aforesaid and the bond given in lieu thereof, as hereinafter referred to, shall provide that in case the vehicle is operated, maintained, or used with the consent or acquiescence of the owner, by one other than the owner, his or her agent, or employee, and an injury results to persons or property as indicated above, due to the negligent operation, maintenance, or use of the vehicle, that the insurer or the obligors in the bond, as the case may be, shall pay to any judgment creditor of the person so maintaining, using, or operating the vehicle, any final judgment rendered against the person so maintaining, using, or operating the vehicle, provided that such judgment creditor shall have filed his or her suit, or filed notice of claim for such loss in all respects as is provided for the judgment creditor of the insured in division (A).
(C) The policy or policies of insurance, and the bond hereinbefore required, shall be valid and effective for the same period for which the license is issued.
(1995 Code, § 117.06) (Ord. 14-1947, passed 2-10-1947)