(A)   No person shall operate or cause to be operated any vehicle for hire over and upon the streets of the town without first taking out and keeping in force at all times a policy or policies of liability insurance with a company licensed to do business in the State of North Carolina. Coverage will be applicable for claims arising from bodily injury and/or property damage, including accidental death which may arise directly or indirectly from the operation of such vehicle. The insurance shall be in the following minimum amounts:
      (1)   For taxicabs, the amounts set forth in G.S. § 20-280;
      (2)   For all other vehicles for hire, the amount of such insurance shall be $500,000 combined single limits for bodily injury and/or property damage unless otherwise limited by law or regulation.
   (B)   Any person who is otherwise qualified for operating vehicles for hire in the town as provided in this chapter shall file with the Town Manager a certificate of insurance coverage certifying that there is in effect a policy or policies of liability insurance as specified in division (A) above. The insurance provider or its agent shall also certify on these documents that it will notify the town by registered or certified mail at least 20 days prior to any cancellation or non-renewal of coverage.
   (C)   If the vehicle for hire is to be operated by a lessee, such insurance shall be furnished by the owner or the lessee or by both.
(Ord. 1630, passed 6-24-10)