§ 23-2. Liability insurance or indemnity bond—Required; minimum coverage.

Before any license shall be issued to any owner or operator of a taxicab, or before any renewal of the license shall be granted, the owner or operator shall be required to file with the mayor, and thereafter keep in full force and effect, a policy of public liability insurance or bond of indemnity executed by an insurance company or stock bonding company, duly authorized to do business in the state, and performable in the parish, insuring the public against any loss or damage that may result to any person or property from the operation of the vehicles; provided, the maximum amount of recovery in such policy of insurance specified shall not be less than the following sums:

(1)

For the injury to any one (1) person or the death of any one (1) person in any one (1) accident, twenty thousand dollars ($20,000.00);

(2)

For the injury of two (2) or more persons or the death of two (2) or more persons in any one (1) accident, forty thousand dollars ($40,000.00);

(3)

For the injury or destruction of property in any one (1) accident, ten thousand dollars ($10,000.00).

(Code 1970, § 15-2; Ord. No. 680, 9-12-05)