Legal Documents of White Pine

No taxicab franchise shall be issued or continued in operation unless there is in full force and effect a liability insurance policy for each vehicle authorized in the amount of fifty thousand dollars ($50,000.00) for bodily injury or death to any one person, one hundred thousand dollars ($100,000.00) for bodily injuries or death to more than one person which are sustained in the same accident, and ten thousand dollars ($10,000.00) for property damage resulting from any one accident. The insurance policy required by this section shall contain a provision that it shall not be cancelled except after at least twenty (20) days' written notice is given by the insuror to both the insured and the recorder of the municipality. (1978 Code, § 5-403)