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4.5 Taxicab Permit Surrender. A Permittee, when selling or removing a Taxicab from the fleet, must assure that the OCTAP Taxicab Permit, welcome decals, and other OCTAP Taxicab markings are removed and that the vehicle cannot be mistaken by the public as an authorized Taxicab. OCTAP Pennits and welcome decals must be surrendered to OCTAP within forty-eight (48) business hours. 4.5.1 A Permittee must surrender the Taxicab Permit to OCTAP if a Taxicab has been removed from the OCTAP-approved insurance policy, if the Taxicab Permit is revoked, or upon its expiration (if the Taxicab Permit will not be renewed). 4.5.2 A Taxicab permit which is voluntarily surrendered by a Permittee can be replaced upon completion of an annual Taxicab inspection and payment of the required fees, or as provided in Section 4.6. 4.6. Replacement Taxicab Permit. If a Taxicab Permit has been damaged or is missing due to theft or destruction, a replacement permit will be issued to the same Taxicab and Permittee, upon payment of the. required replacement fee. The replacement Taxicab Permit shall be valid for the remaining term of the Taxicab Permit that was replaced. 5. TAXICAB REQUIREMENTS All Taxicabs shall meet the requirements of the California Vehicle Code, including, but not limited to, California Vehicle Code § 24000, at seq. The California Vehicle Code shall take precedence over any OCTAP Taxicab requirement. Taxicabs must be maintained to these standards at all times. 5.1 Proof of Insurance. Taxicab Drivers shall at all times cant' in the vehicle evidence of the form of financial responsibility in effect for the vehicle, pursuant to Califomia Vehicle Code §§ 16020 through 16028. 5.2 California Vehicle Registration. Evidence of valid and current vehicle registration must be maintained in each Taxicab, pursuant to California Vehicle Code § 4462. 5.2.1 Registered as a commercial vehicle, pursuant to California Vehicle Code § 260. Page 22 of 32 55A-29