No person shall be granted a license to engage in the business of sign manufacturing for advertising purposes, by erecting, maintaining or servicing ground signs, roof signs, wall signs, projecting or marquee signs as aforesaid unless the person shall, at his own expense, provide and furnish to the Building Inspector a certificate of public liability insurance stating that a public liability insurance policy has been issued to them by an insurance company approved by the Insurance Commissioner of the state and registered and authorized to do business in the state. The insurance policy shall contain a five-day written notice requirement to the city before it can be cancelled, and shall be for a coverage for personal injuries of not less than $20,000 for one person and $40,000 for each accident, and for property damage of not less than $5,000. The policy shall be so written that bodily injuries and property damage caused by the negligence of the insured in erecting, maintaining or servicing the signs aforesaid. The insurance policy and the certificate aforesaid issued thereon shall be approved as to form by the corporation counsel and the certificate shall be filed in the office of the Building Official.
(1967 Code, § 18-4) Penalty, see § 10.99