Before a license shall be delivered to any operator, he or she shall deposit with the City Clerk a policy or policies of an insurance company or companies duly licensed to transact the business in the state, insuring the operator of any taxicab to be licensed against loss from the liability imposed by law for damages on account of bodily injuries or death, or for damage to property resulting from the ownership, maintenance or use of any taxicab to be owned or operated under the license, and agreeing to pay to any judgment creditor to the extent of the amounts specified in the policy any final judgement rendered against the assured by reason of the liability. The policy or policies shall be approved by the City Attorney as to form any compliance with this chapter. The limit in any insurance policy of the liability of the insurer on account of the ownership, maintenance and use of taxicab shall not be less than $100,000 for bodily injuries to or death of one person and $300,000 on account of any one accident resulting in injuries to and/or death of more than one person and a total of $30,000 liability for damage to property of others, arising out of any one accident.
(Prior Code, § 925.15)