(A) No license shall be issued and no taxicab shall be operated on any street or highway within the city until there is filed with the City Clerk a policy of insurance executed by a company authorized to execute such instruments under the laws of the state, running for the year of the license to be issued to the applicant as provided in § 119.05.
(B) The policy of insurance for each licensed taxicab shall be in the minimum sum of $100,000 conditioned for the payment of any final judgments recovered against the person for the death or injury of persons caused in the operation, maintenance, use, or defective condition of the taxicab. The policy shall be limited to the minimum sum of $300,000 to more than one person and limit the liability of the insurer to a minimum sum of $100,000 for damages to, or destruction of, property. An operator shall have insurance in effect at all times while operating within the City of New Albany.
(Ord. G-95-228, passed 8-17-1995; Ord. G-21-02, passed 2-18-2021) Penalty, see §
119.99