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5. INSURANCE. Each operator must carry public liability insurance on each <br /> licensed livery vehicle in the amount of Fifty Thousand Dollars ($50,000) minimum for <br /> each person, and one Hundred Thousand Dollars ($100,000) minimum far each accident ; <br /> for death or personal injury, and property damage in the amount of Ten Thousand Dollars <br /> ($10,000) for each accident. Such insurance must be kept in force at all times and if any <br /> such insurance expires, such operator must at once cease operation of any livery vehicles <br /> on the streets of the City. Certificates of all insurance must be kept on file in the Financial <br /> Management Department at all times. Such insurance company must be licensed to do <br /> business in the State of Illinois. <br /> 6. TRANSFER OF LIVERY LICENSE. A license for a livery vehicle may be <br /> transferred by the City Manager or his designee from one such vehicle to another <br /> belonging to the same owner by making application therefor upon forms to be provided <br /> by the Financial Management Department and payment of a transfer fee of Three Dollars <br /> ($3.00). <br /> 7. COMPLIANCE. No licenses issued hereunder may be renewed except upon <br /> I <br /> proof of compliance with the terms of this chapter for original issuance of such license. <br /> 8. STANDARDS FOR VEHICLES. No vehicle shall be licensed until it has <br /> been examined at an official testing station licensed by the State of Illinois and a <br /> certificate of safety issued thereon and said vehicle is clean, of good appearance and well <br /> painted. Each such vehicle shall be so tested semi-annually and a report of such test shall <br /> be filed in the Financial Management Department. After any accident involving a livery <br /> vehicle, the Chief of Police or his designee may require that said livery vehicle again be <br /> tested at such official testing station. The City Manager or his designee may revoke or <br />