(A) No person engaged in the business of transporting passengers for hire over the public streets of the city shall operate on the public streets of the city any taxicab, except those operated under the jurisdiction of the State Utilities Commission, without furnishing and keeping in effect for each taxicab so operated a policy of insurance The policy of insurance shall obligate the operator to be responsible for money damages for legal liability incurred on account of bodily injury to persons or damage to or destruction of property resulting from the operation of the operator's taxicab upon the streets of the city, and shall be such amounts as the City Council shall from time to time require.
(B) The policy of insurance shall be filed with the Taxicab Inspector as a condition precedent to the operation of any taxicab over the streets of the city.
(C) Any insurance policy filed in accordance with this section shall provide that the same shall not be canceled without first giving 30 days’ notice to the policy holder. If a taxicab owner or taxi cab company owner receives a notice of cancellation of an insurance policy, or any line of coverage, the owner will notify the Taxicab Inspector within five business days.
(D) It shall be deemed a sufficient compliance with this section if a certificate issued by the insurer showing that the insured has secured the required insurance and that the same is in force and is filed with the Taxicab Inspector. If the certificate is filed, the original policy may be surrendered.
(Ord. passed - - )