§ 14-242. Liability insurance.

(a)

No person shall operate or cause to be operated any taxicab over and upon the streets of the town without first taking out and keeping in force and effect at all times a policy or policies of liability insurance in some company licensed to do business in that state, in an amount required by G.S. 20-280. Such liability insurance shall be conditioned upon the payment of any final judgment rendered on account of any personal property injury or property damage caused by any taxicab by operating on any of the streets of the town by or under the direction of such person.

(b)

Any person who has otherwise qualified for operating taxicabs in the town as provided in this article and who desires to furnish liability insurance provided herein as a condition precedent to the operation of any such taxicab shall file with the Town Manager a certificate of the insurance carrier certifying that there is in effect a policy or policies of liability insurance carried by such person.

(c)

Any such insurance shall contain a provision for continuing liability thereunder to the full amount thereof notwithstanding any recovery thereon.

(d)

If the taxicab or other vehicle for hire is to be operated by a lessee, such insurance shall be posted by the owner or the lessee or by both.

(Code 1986, § 8-160; Ord. No. 87-220, art. II, § 3, 4-14-1987)