§ 7-3. Contractor's liability insurance.
Before a license shall be issued to any contractor or subcontractor, the contractor shall file with the chief building official a certificate signed by a qualified agent of an insurance company stating that a policy or policies have been issued to the licensee for public liability insurance and public property damage insurance in the sum of not less than ten thousand dollars ($10,000.00); the minimum limits of each; the policy number or numbers; the name of the company or companies; the effective date of each; the expiration date of such policy or policies; together with a statement and a copy of an endorsement placed on such policy or policies requiring five (5) days' written notice by registered mail to the chief building official, if it becomes necessary to cancel the policy or policies for any reason. In the event of cancellation, the contractor shall be required to furnish a new certificate in full compliance with this section within ten (10) days. Failure to do so shall result in the license being automatically revoked at the end of such time.
(Code 1960, § 10-8)