Cash indemnity bonds of passenger carriers

In any case where ordinances of any municipality require persons, firms, corporations, or associations operating motor-propelled vehicles for transportation of persons for compensation to procure liability insurance or indemnity bonds, it shall be a substantial compliance with the ordinances if the persons, firms, corporations, or associations furnish a cash indemnity bond conditioned on the same conditions as required on liability insurance policies and in such amount as required for liability insurance policies. Acts 1937, No. 126, § 1; Pope's Dig., § 10048; A.S.A. 1947, § 19-3511. In any case where ordinances of any municipality require persons, firms, corporations, or associations operating motor-propelled vehicles for transportation of persons for compensation to procure liability insurance or indemnity bonds, it shall be a substantial compliance with the ordinances if the persons, firms, corporations, or associations furnish a cash indemnity bond conditioned on the same conditions as required on liability insurance policies and in such amount as required for liability insurance policies. Acts 1937, No. 126, § 1; Pope's Dig., § 10048; A.S.A. 1947, § 19-3511.