Sec. 32-4. Bond or insurance required of operators.
Every person operating motor vehicles or taxis for hire within
the city shall be required to give a satisfactory bond in the sum of
fifty thousand dollars, to cover any liability that might result to
persons or property from such operations; provided, that such
bond shall not be required when the owner of such vehicle shall
take out and keep in force public liability and property damage
insurance in some company authorized to do business in this state
on each motor vehicle as follows:
Fifteen thousand dollars for loss sustained by the insured by
reason of bodily injury to or death of any one person in one
accident;
Thirty thousand dollars for loss sustained by the insured by
reason of bodily injury to or death of more than one person in any
one accident;
Five thousand dollars for damages to property of any person
other than the insured.
Such policies or certificates thereof shall be deposited with the
chief of police. (Code 1959, § 32-4.)
