Any insurance company whose policy has been so filed pursuant to this Chapter shall file a written notice with the Officer of its intention to terminate and cancel such policy and give notice thereof to the named applicant; whereupon after ten (10) days after such filing, such applicant or owner shall cease to operate or cause to be operated within the City such taxicab or motor vehicle for hire/limousine, and the permit issued therefor shall be automatically revoked and liability on such policy shall cease and terminate, provided that the liability of the insurance company thereon for any act or omission of the applicant or owner occurring prior to the effective date of cancellation shall not be thereby discharged or impaired.
(Ord. 304-08. Passed 10-7-08.)