Before the issuance of a license to operate a taxicab or motor vehicle for hire, the prospective licensee shall file a certificate signed by a duly authorized officer or agent of a company authorized to write liability insurance in the State to the effect that a policy of insurance has been issued to the prospective licensee and is in full force and effect, and that the premium has been paid as required thereon, together with a true copy of the policy or contract of insurance. Such policy of insurance shall be within the limits set forth in this section, which amounts shall be regarded as the minimum required and which amounts shall be conditioned on the payment of any judgment recovered against the prospective licensee by reason of death or injury to persons or damage to property caused by negligent operation, maintenance or use or the defective construction of the motor vehicle being licensed. The minimum liability insurance to be provided shall be one hundred thousand dollars ($100,000) per person, three hundred thousand dollars ($300,000) per occurrence ($100,000/$300,000).
(Ord. 2001-11. Passed 6-5-01.)