(a) It shall be unlawful to permit the rental of a moped in the Village, unless and until the owner of the moped shall deposit with the Village evidence of liability insurance protection. Evidence of a liability protection shall be furnished by filing with the Village a policy of insurance in the amount of not less than State minimum known as Combined Single Limit Insurance Coverage, from an insurance company duly licensed to transact business in the State of Ohio, insuring the owner of the moped for hire for liability imposed by law for damages on account of bodily injuries, death or property damages in any one accident resulting from the ownership or maintenance of such moped, and agreeing to pay any judgment creditor, to the extent specified in the policy, any final judgment rendered against the insured by reason of such liability as provided in this division (a).
(b) The insurance policy as provided in division (a) must provide for cancellation by the insurer upon written notice to the Village, but this provision shall not be construed to waive any lawful notice which the insurer must give to the insured.
(c) The owner, or his or her designee, shall provide notice of cancellation of insurance to the Village at least seven days prior to the day of cancellation, and at the time of cancellation voluntarily surrender the rental vehicle fee paid document for the moped(s) for which the cancellation is effective.
(d) If an owner shall fail to comply with the requirements of Section 874.04(c), prior to the Village receiving notice from the insurer of such cancellation, the Mayor may immediately suspend the right to operate any moped for hire covered by the cancelled insurance policy.
(e) Upon the effective date of the suspension, the owner must surrender the rental Vehicle Fee Paid document for each moped not covered by an insurance policy. The Mayor may, upon filing proof of insurance required by Section 874.04(a) and the payment of a fee of thirty-seven dollars and fifty cents ($37.50) per moped, reinstate the Vehicle Fee Paid document.
(Ord. 1035-11. Passed 6-11-12.)