No person shall engage in the business of operating a taxicab within the municipality unless the person first files proof of financial responsibility with the Town Clerk. As used in this section,
PROOF OF FINANCIAL RESPONSIBILITY shall mean a certificate of any insurance carrier duly authorized to do business in the state certifying that there is in effect a policy of liability insurance insuring the owner and operator of the taxicab business and the owner's and operator's agents and employees while in the performance of their duties against loss from any liability imposed by law for damage, including damages for care and loss of service because of bodily injury to or destruction of property caused by accident arising out of the ownership, use or operation of the taxicab or taxicabs, subject to limits (exclusive of interest and cost) with respect to each motor vehicle as follows:$30,000 because of bodily injury to or death of one person in any one accident and, subject to the limit for one person, $60,000 because of bodily injury to or death or two or more persons in any one accident and $25,000 because of injury to or destruction of property of others in any one accident.
(1989 Code, § 11-71; 2003 Code, § 4-6.2) (Amended 1-2-1996)
Statutory reference:
Similar provisions, see G.S. § 20-280