(A) No person shall operate a taxicab in the city unless he or she has placed on file with the Clerk- Treasurer, prior to the issuance of a license, a policy of insurance in full force and effect, issued by a responsible and reputable company authorized to do business in the state, insuring the operator and driver against personal liability to the extent of $15,000 for injury or death to any one person, $30,000 for one accident, and $5,000 property damage.
(B) The policy of insurance must remain in full force and effect at all times and shall be retained by the Clerk-Treasurer.
(‘89 Code, § 46.13) Penalty, see § 10.99