(A) All taxicab operators shall secure liability insurance or enter into bond with personal or corporate surety to be approved by the Council in the following amounts for each taxicab operated:
(1) Five thousand dollars for injury to one person in case of accident;
(2) Ten thousand dollars for injury to more than one person in one accident; and
(3) Five hundred dollars for property damage in one accident.
(B) No person, firm or corporation shall operate or attempt to operate a taxicab within the town without first having posted the surety bond or having secured the liability insurance herein provided for.
(Prior Code, § 116.09)
Statutory reference:
Filing proof of financial responsibility with municipality, see G.S. § 20-280