Each applicant for a license under this chapter shall keep at all times in full force
and effect a public liability insurance policy written by an insurance company authorized
to do business in this state, in the following amounts: Not less than twenty-five
thousand dollars ($25,000.00) property damage; one hundred thousand dollars ($100,000.00)
for injury or death of one (1) person; and five hundred thousand dollars ($500,000.00)
for injury or death for each occurrence. A copy of the policy or certificate of insurance
shall be filed with the licensing official. The policy or certificate shall contain
an endorsement as provided by section 259.160 of this Code of Ordinances. No cancellation of any insurance policy shall be valid
except upon thirty (30) days' prior written notice to the city. (79-Or-135, § 4, 6-29-79;
2013-Or-171, § 4, 12-6-13)
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