§ 19-4. Public liability insurance or bond required.

The owner or operator of any vehicle for hire shall, before receiving a license to operate and prior to operating the same, present to the city clerk a public liability insurance policy or certificate of insurance in lieu thereof, issued by some insurance company authorized to transact business in the State of Mississippi, or bond or bonds, approved by the city council in writing.

Such insurance policy, certificate of insurance or bond shall be conditioned for the payment of any final judgement against said owner or operator for the personal injury or property damage resulting from or arising out of the use, maintenance or operation of the vehicle for hire; provided, however, that the amount of the insurance policy, certificate of insurance or bond required shall in no case be less than one hundred thousand dollars ($100,000.00) for the death or injury of any one person, and subject to said limit for owner person; two hundred thousand dollars ($200,000.00) aggregate liability; and twenty-five thousand dollars ($25,000.00) for property damage.

The insurance policy, certificate of insurance or bond shall contain a provision or endorsement to the affect that the same shall not be canceled for any cause by either party thereto unless and until ten-day written notice thereof shall have been given to the city.

In any action, whether in law or in equity, against any owner or operator, operating under the provisions of this section, the insurer, insurance company, or obligor in the policy of insurance or bond given by such owner of operator in compliance of this section, shall not be joined as a part to such suit and shall not be a proper party thereto; except that the insurer, insurance company, or obligor in such policy of insurance, certificate of insurance or bond shall be obligated to pay any final judgement obtained against such owner or operator as herein provided, regardless of the solvency, insolvency, bankruptcy or receivership of such owner or operator; provided however, in the event that the insured shall abandon his permit and leave the state, a claimant asserting his claim within the provision of such insurance policy or bond may file suit against the insurer, insurance company or obligor issuing such insurance policy, certificate of insurance or executing such bond, in a court of component jurisdiction, without the necessity of making the insured a party to said suit.

(Ord. No. 32, § 4, 10-18-88)