§ 17-6. Liability insurance.

(a)

It shall be unlawful for any person to operate or drive a taxicab or permit the same to be driven or operated on the streets of the city unless the owner or operator thereof shall first have procured and filed with the city clerk a liability insurance policy or policies, the terms and conditions whereof shall be such as to provide protection for all persons suffering injury, loss or damage to person or to property by reason of the operation of any taxicab.

(b)

Every such insurance policy shall be of form and substance approved by the city council, shall be executed by an insurance company or companies authorized to do business in the state and acceptable to the city council, and shall be in the penal sum of at least one hundred thousand dollars ($100,000.00) for injury or death to any one person, in the penal sum of at least three hundred thousand dollars ($300,000.00) for injury or death to all persons caused by any one accident, and in the penal sum of at least twenty-five thousand dollars ($25,000.00) for damage to property resulting from any one accident, and each of such penal sums shall remain in full force and shall be undiminished during the effective period of the insurance.

(c)

Every such insurance policy shall contain a provision whereby every company executing the same shall obligate itself to notify the city clerk in writing at least thirty (30) days before any alteration, modification or cancellation of such policy is to become effective.

(d)

No permit shall be issued to operate any taxicab unless and until such liability insurance policy is filed with the city clerk, and failure of the owner or operator of such taxicab to procure and keep on file with the city clerk at all times a liability insurance policy in the penal sums aforesaid shall be grounds for the revocation or suspension of the operator's permit for such taxicab.

(Code 1966, § 27A-6)