§ 25-21. Public liability and property damage insurance required.

(a)

Before the granting of an annual permit to operate a taxicab service in the city shall become effective, the grantee shall procure and furnish to the chief of police, and thereafter keep in full force and effect, a policy of public liability and property damage insurance to be approved by the chief of police, and issued in the amounts and under the provisions of this article. Every such policy shall insure all the taxicabs owned, leased, contracted for or controlled by the holder of such annual permit and used in such taxicab service for which an annual permit has been authorized. Such policy shall inure to the benefit of any person who shall be injured or who shall sustain damage to property, approximately caused by the negligence of an annual permit holder, his servants or agents. The issuer shall be obligated to pay all final judgments which may be rendered in behalf of the public for loss or damage resulting to persons or property from the negligent operation of any such taxicab.

(b)

Every such policy of insurance shall be issued by an insurance company organized and existing under the laws of the state, or having a permit to do business in the state, and having an agent or attorney for service in the State of Texas.

(Ord. No. 2014-02, § 1, 3-18-2014)