§ 341.510. Requirements for insurance.

(a) Such insurance policy or policies shall be in an insurance company duly licensed to do business in the State of Minnesota, shall be approved by the licensing official, and shall insure such person, his or her lessees or licensees, against loss in the sum of at least one hundred thousand dollars ($100,000.00) because of bodily injury to or death of one (1) person in any one (1) accident, and subject to said limit for one (1) person, to a limit of not less than three hundred thousand dollars ($300,000.00) because of bodily injury to or death of two (2) or more persons in any one (1) accident resulting from the negligent operation, use or defective condition of a taxicab.

(b)

Such insurance policy shall, in addition to the foregoing provisions, also contain a provision insuring such person, his or her lessees or licensees, in the sum of at least one hundred thousand dollars ($100,000.00) against loss for damage to the property of any person or persons in any one (1) accident resulting from the negligent operation, use or defective condition of any taxicab.

(c)

Any of the policies herein provided for shall contain a clause in the case of an insurance policy that the liability of the insurer shall not be affected by the insolvency or bankruptcy of the assured; a clause obligating the insurer to give fourteen (14) days' written notice to the licensing official and to the insured or assured before any cancellation or termination thereof earlier than its expiration date; a clause providing for the indemnity or security against the liability and responsibility of the owner, licensee or operator of any such taxicab for death or injuries to any person or persons resulting from negligence in the operation of such taxicab, in the business of such owner, licensee or operator, by any person legally using or operating the same with the permission, express or implied, of such owner, licensee or operator, subject to the limitations as to amount herein stated.

(d)

No such policy shall include or contain any limitation, condition or clause providing in effect that such policy shall not cover automobiles mentioned or described or included therein when such automobiles are driven, used, operated or maintained while the driver or occupants thereof are intoxicated or engaged in the illicit transportation of liquor; and no such policy shall contain any limitation, clause or provision whatever excepting and releasing any insurer on any such policy from liability thereunder by reason of any such automobile being driven, used or operated when the driver or occupants thereof are intoxicated or engaged in the illicit transportation of liquor. (83-Or-081, § 2, 4-8-83; 88-Or-004, § 17, 1-15-88; Pet. No. 251179, § 236, 12-29-89; 2005-Or-129, § 5, 11-18-05; 2007-Or-022, § 6, 3-30-07; 2013-Or-213, § 17, 12-6-13)