A. Requirement: Before any license shall be issued to and for any vehicle for hire, the owner or operator thereof shall have first filed with the city clerk a public liability insurance policy or a certified copy thereof to be approved by the city clerk before issuing such license.
B. Liability Amounts: The liability under such insurance policy shall be to the beneficiaries thereunder severally and jointly. Such policies shall carry a personal injury liability to any person who may be insured, in the amount of ten thousand dollars ($10,000.00) or more; and shall carry a liability of twenty thousand dollars ($20,000.00) or more for the injuries and damages resulting from a single accident to persons injured in such accident and shall also provide for liability for property damage in the sum of ten thousand dollars ($10,000.00) or more which may result from any single accident.
C. Company Requirements: No policy shall be accepted by the city clerk unless the same is issued by a licensed insurance company doing business in the state. (Ord. 289, 9-30-1986)