(A) The owner of every bus, taxicab, limousine or other motor vehicle engaged in the business of transporting passengers for hire over the public streets of the town shall furnish to the Chief of Police, to be filed by the Town Clerk and keep in effect for each bus, taxicab or other vehicle so operated, a policy of insurance or surety bonds, in the forms and issued by the company or executed by sureties as shall be approved by the Town Clerk, to insure the payment of damages incurred in any one accident for personal injuries resulting from the negligent operation of the vehicle to any one person to the extent of $50,000 and to more than one person to the extent of $100,000 and for property damage to the extent of $25,000.
(B) It shall be unlawful for any person to operate a motor vehicle for hire within the town and unlawful for the owner thereof to permit the same to be operated unless and until a public liability insurance policy or surety bond is filed with the Chief of Police and unless the policy or surety bond is in full force and effect at the time of the operation of the motor vehicle.
(Ord. O-1-5-93, passed - -) Penalty, see § 10.99