No autocab, limousine or livery service, having its principal
place of business in the Borough of Lincoln Park, shall be operated
wholly or partly along any street in the Borough until the owner shall
have filed with the Borough Clerk an insurance policy as provided
by N.J.S.A. 48:16-14. Such operation shall be permitted only so long
as the insurance policy shall remain in force to the full and collectable
amount required by N.J.S.A. 48:16-14.
The owner of an autocab, limousine or livery service, having its principal place of business in the Borough, shall execute and deliver to the Borough Clerk, concurrently with the filing of the policy of insurance referred to in §
419-10, a power of attorney, in accordance with the requirements of N.J.S.A. 48:16-16, appointing the Borough Treasurer as its true and lawful attorney for the purpose of receiving service of process, out of any court of competent jurisdiction, to be served against the insured, by virtue of the indemnity granted under the insurance policy filed.
Upon the filing of the required policy of insurance and power
of attorney, the Borough Clerk shall issue a certificate, in duplicate,
showing that the owner of the autocab, limousine or livery service
has complied with the terms and provisions of this article and N.J.S.A.
48:16-13 et seq. The original certificate shall be posted in a conspicuous
place within the autocab, limousine or livery vehicle.
The owner of an autocab, limousine or livery service, operating along any street in the Borough, shall also be required to comply with the licensing requirements of Article
II of this chapter.