§ 406-31. Form of Bond or Policy.  


Latest version.
  • The form of personal bond, surety bond, or policy or policies of insurance shall be substantially as follows:

    Know all men by these presents:

    That we, _______ of the city of Cincinnati, state of Ohio, as principal, and _______ a corporation organized and existing under and by virtue of the laws of _______, and authorized to transact business in the state of Ohio, under the laws thereof, as surety, are held and firmly bound unto the city of Cincinnati, in the just and full sum of lawful money of the United States of America, upon each and every vehicle operated by the principal herein, in the amounts as set out in the schedule below, for the payment of which well and truly to be made, do hereby bind ourselves, our heirs, executors, administrators, successors, and assigns, severally by these presents:

    Signed, sealed and dated this _______ day of _______ 19___.

    This bond is written in pursuance of, and is to be construed in accordance with the ordinances of the city of Cincinnati; is to be filed with the treasurer of the city of Cincinnati for the benefit of persons who sustain damage or injury from the negligent operation of any and all motor vehicles operated by the motor transportation company (principal herein), under and by virtue of its license issued by the treasurer of the city of Cincinnati.

    On each motor vehicle used for the transportation of persons, having a seating capacity of seven passengers or less:

    Six thousand dollars for any recovery for personal injury by one person; and

    Twelve thousand dollars for all persons receiving personal injury by reason of one act of negligence; and

    One thousand dollars damage to property of any person other than the assured.

    On each motor vehicle used for the transportation of persons having a seating capacity of 8 to 12 passengers, inclusive:

    Six thousand dollars for any recovery for personal injury by one person; and

    Eighteen thousand dollars for all persons receiving personal injury by reason of one act of negligence; and

    One thousand dollars for damage to property of any person other than the assured.

    On each motor vehicle used for the transportation of persons, having a seating capacity of 13 to 18 passengers, inclusive:

    Six thousand dollars for any recovery for personal injury by one person; and

    Twenty-four thousand dollars for all persons receiving personal injury by reason of one act of negligence; and

    One thousand dollars for damage to property of any person other than the assured.

    On each motor vehicle used for the transportation of persons, having a seating capacity of 19 to 24 passengers, inclusive:

    Six thousand dollars for any recovery for personal injury by one person; and

    Thirty thousand dollars for all passengers receiving personal injury by reason of one act of negligence; and

    One thousand dollars for damage to property of any person other than the assured.

    On each motor vehicle used for the transportation of persons, having a seating capacity of more than 24 passengers:

    Six thousand dollars for any recovery for personal injury by reason of one act of negligence; and

    Thirty-six thousand dollars for all persons receiving personal injury by reason of one act of negligence; and

    One thousand dollars for damage to property of any person other than the assured.

    Now, therefore, the condition of this obligation is such that if the principal, in accordance with the ordinances of the city of Cincinnati, shall pay all damages for personal injuries which may be sustained by any person, or any damage to property of any person other than the assured, by reason of any act of negligence on the part of the principal, its agents or employees, in the operation of motor-propelled vehicles in transporting persons for compensation under the ordinances of the city of Cincinnati, then this obligation shall be void; otherwise to remain in full force and effect.

    This bond may be cancelled by the surety at any time by filing written notice with the treasurer of the city of Cincinnati, stating when the cancellation shall be effective, but in no case shall such cancellation notice be effective within 10 days after the receipt of such notice by the treasurer of the city of Cincinnati.

    _____
    Principal

    _____
    Surety

(C.O. 406-21; renumbered to C.M.C. 406-31, eff. Jan. 1, 1972)