§ 114.03. LIABILITY INSURANCE REQUIRED.

No license shall be issued and no taxicab shall be operated on any street in the city until there has been filed with the Clerk-Treasurer an indemnity undertaking or policy of insurance, executed by an insurance company authorized to execute the instruments in the State of Indiana, and running for the year of the license to be issued to the applicant, all subject to approval of the Clerk-Treasurer. The policy shall provide for the payment of any final judgment that may be rendered against the insured for damages to property or for bodily injury or death of passengers or other persons resulting from collision or other accident for which the person may be found liable while operating the taxicab described in the application, in a sum up to $300,000 per accident.

(Ord. 3096, passed 6-2-97; Am. Ord. 3497, passed 1-2-07) Penalty, see § 10.99