No taxicab shall be operated unless it is covered by a public liability policy as required by statute. The insurance policy required by this section shall contain a provision that it shall not be cancelled except after thirty (30) days written notice is given by the insurer to both the insured and the finance director for the City of Paris. The insurance policy shall be filed with the finance director, who shall issue a receipt therefore. The receipt shall show the policy number, the name of the insurance company, the name of the insured, and the make, color, style and motor or manufacturer's serial number of each vehicle covered by the policy. A copy of such receipt shall be kept in each insured taxicab and shall be exhibited by the driver to any police officer or passenger upon request and to any person or such person's agent who is injured or damaged by such vehicle (Ord. #849, 05/05/94).