[Amended 10-17-1979 by Ord. No. 1979-17]
In order to ensure the safety of the public,
it shall be unlawful for the owner or owners of any taxicab to operate
such taxicab or cause or permit such taxicab to be operated, nor shall
any license be issued hereunder, until and unless the applicant shall
have complied with the provisions of Chapter 231 of the Laws of 1926,
now embodied in N.J.S.A. 48:16-1 et seq., of the State of New Jersey,
and the acts amendatory thereof or supplemental thereto relating to
the filing of an insurance policy covering the owner or operator of
such vehicle for damage to person or persons for which he or she may
become liable by reason of the ownership, maintenance or use of said
vehicle. Said taxicab owner of said cab for hire shall file a public
liability insurance policy with the Township Clerk in the amount of
not less than $100,000 for each person and not less than $300,000
for each accident for personal injury, and not less than $50,000 for
property damage for each accident.