The owner and driver of every taxicab shall furnish and keep in effect for each taxicab proof of financial responsibility. The insurance policy shall contain a clause obligating the insurance company to give 15 days' written notice to the chief prior to the cancellation of coverage or reduction in coverage or other material change in the policy of such insurance on any taxicab. The operating permit for any taxicab shall be automatically revoked upon the lapse, cancellation or termination of the insurance on that vehicle unless the same has been renewed or replaced and a new certificate filed with the chief.
(Ord. passed 2-5-2013)