Applicants for a license or renewal of a license to operate a public passenger vehicle in the village shall produce:
(A) A certificate from The Secretary of State showing compliance by the owner for each public passenger vehicle with the provisions of the statutes of Illinois now or hereafter enforced relating to the bonding or insurance of motor vehicles used for carriage of passengers for hire; and
(B) A policy of insurance or certificate of insurance from an insurance company licensed to do business in the state, which policy shall conform to the following requirements (unless greater coverage is required by any other applicant law)
(1) The policy of insurance shall cover all public passenger vehicles and shall, as a minimum insure applicant against any liability for injury to persons or property within the limits of $100,000 for each person injured, $300,000 for each accident, and $50,000 for property damage, said coverage for property damage shall protect all persons and property other than the applicant.
(2) The applicant shall furnish to the village a certificate of insurance requiring that the coverage may not be canceled or materially changed without 30 days prior written notice to the village.
(3) All bonds or insurance, policies required by this section, or copies thereof, certified by the insurers or surety, shall be filed with the Village Clerk or designee and shall not be subject to cancellation except on thirty days prior written notice.
(4) All insurance policies required by this section shall contain a description of each motor vehicle giving the manufacturer's name and vehicle identification number.
(5) If any insurance is canceled or permitted to lapse for any reason, the Village Manager shall, after proper notice and hearing, be authorized to suspend the license for the vehicles affected for a period not to exceed 30 days to permit other insurance to be supplied in compliance with the provisions of this section. If any such insurance is not supplied within the period of suspension of the license, the Village Manager shall be authorized to revoke the license for such vehicles after proper notice and hearing.
(Ord. 2681-99, passed 8-4-99)