No license to operate a taxicab shall be issued unless the applicant files with the City Clerk-Treasurer a written statement from the applicant's insurer stating that the applicant has a policy of liability insurance for each taxicab, said policy to be issued by a company authorized to do business in the State of Indiana, with liability limits of at least $500,000 for any one accident. Said policy of insurance shall contain a provision that the city shall be notified by the insurance company at least ten days prior to the cancellation or modification of said policy.
(Ord. 906, passed 3-1-2004)