(A) It shall be unlawful for any owner of a taxicab to operate such taxicab in the corporate limits without first taking out and keeping in effect at all times a policy or policies of insurance issued by some insurance company duly licensed to do business in the state to cover damages.
(B) Said insurance shall at all times equal or exceed the minimum requirements in effect under the state’s insurance regulations.
(1979 Code, § D-1-3) Penalty, see § 115.99