(A) Before a license shall be delivered to any operator, he or she shall deposit with the Clerk a copy or copies of a policy or policies of an insurance company or companies duly licensed to transact the business in this state, insuring the operator of any taxicab to be licensed against loss from the liability imposed by law for injury or damages to persons or property resulting from the ownership, maintenance or use of any taxicab to be owned or operated under the license.
(B) The policy or policies shall be approved by the City Attorney as to form and compliance with this chapter.
(C) The limits of any liability insurance policy shall not be less than $500,000 for bodily injuries to or death of 1 person and $1,000,000 on account of any 1 accident resulting in injuries to or death of more than 1 person, and a total of $50,000 liability for damage to property of others, arising out of any 1 accident.
(Prior Code, § 58-35) (Ord. 107, passed 1946) Penalty, see § 121.99