(a) The insurance policy as provided in Section 866.19 must provide for cancellation by the insurer upon written notice to the Village Fiscal Officer, but this provision shall not be construed to waive any lawful notice which the insurer must give to the insured.
(b) The owner or his or her designee shall provide notice of cancellation of insurance to the Fiscal Officer at least seven days prior to the day of insurance cancellation, and at the time of cancellation voluntarily surrender the taxicab owner license and safety decal for which the cancellation is effective. If the license is voluntarily surrendered, the Mayor may, upon the filing of proof of insurance required by Section 866.17, and its approval by the Village Attorney, reinstate such permit.
(c) If an owner shall fail to comply with the requirements of division (b), prior to the Fiscal Officer receiving notice from the insurer of such cancellation, the Fiscal Officer shall immediately suspend the taxicab license of any vehicle covered by said policy. If proof of insurance is given prior to the effective date of the suspension, the suspension can be waived by the Fiscal Officer.
(d) Upon the effective date of the suspension, the owner must surrender the license and decal for each vehicle not covered by an insurance policy. The Mayor may, upon the filing of proof of insurance required by Section 866.17, its approval by the Village Attorney, the reinspection of each vehicle covered by the policy, and the payment of the fee required by Section 866.09, reinstate such license.
(e) The owner shall notify the Fiscal Officer within five days of the removal of a licensed taxicab driver from the taxicab owner's insurance coverage by its insurer.
(Ord. 973-09. Passed 4-12-10.)