§ 25-17. Insurance requirements.

The holder of any permit to conduct a taxicab business in the city shall at all times during the life of such permit keep each and every vehicle operated by him under his permit insured in a company authorized to do business in the state, indemnifying the permittee in the sum of fifty thousand dollars ($50,000.00) for injury or death to one (1) person or one hundred thousand dollars ($100,000.00) for injury to death to all persons in each accident and fifty thousand dollars ($50,000.00) for property damage in each accident, through and by reason of the operation of his taxicab. Such policies or certificates of insurance shall be approved by the city attorney, and filed and left with the city secretary. Such policies of insurance shall not be cancelled or surrendered, except upon written notice to the city secretary. Failure of any permittee to procure and file the policies of insurance as required by this section shall immediately forfeit and make null and void such permit, and all rights thereunder shall at once cease.

State law reference

Insurance required and Safety Responsibility Law, V.A.C.S. art. 6701h, § 1(10).