Legal Documents of Maryville

No taxicab franchise shall be issued or continued in operation unless there is, in full force and effect, a liability insurance policy approved by the recorder for all vehicles authorized in the amount of not less than one hundred thousand dollars ($100,000.00) for injury to, or death of, any one (1) person, and three hundred thousand dollars ($300,000.00) for injury to, or death of, any number of persons in one (1) occurrence, and property damage liability insurance in the amount of fifty thousand dollars ($50,000.00) in one (1) occurrence, and a copy of the policy to be on file with the recorder. The insurance policy required by this section shall contain a provision that it shall not be canceled except after at least twenty (20) days' written notice is given by the insurer to both the insured and the recorder of the municipality. (1999 Code, § 9-303)