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is 7" <br />chapter shall be required to maintain at all times with a casualty <br />insurance company authorized to do business in the State of Florida, <br />public liability insurance with minimum coverage of $100,000.00 for <br />bodily injury liability; $25,000,00 for property damage liability; <br />and workmen's compensation insurance as required by Florida Statutes <br />and the Florida Administrative Code. <br />C. All contractors shall file with the Building <br />Official, at the time application is made for registration, and <br />with the Tax Collector, at the time that their applicable business <br />license is renewed, a certificate signed by a qualified agent of <br />the casualty insurance company stating that policies have been issued <br />to the registrant for employee's liability insurance or workmen's <br />compensation insurance, public liability insurance and public <br />property damage. <br />D. In the event of the cancellation of a policy, the <br />Building Department shall immediately notify the registrant and the <br />registrant shall be required to immediately furnish a new certificate <br />in full compliance with the terms of this section. Failure to do so <br />shall constitute a violation of this section and such registration <br />shall automatically be revoked. Such registration may be reinstated <br />by the Building Department when the registrant has furnished a <br />certificate of insurance in compliance with this section. <br />SECTION 5 <br />SUSPENSION OR REVOCATION OF REGISTRATION <br />The Building Code Board of Adjustments and Appeals shall <br />have the power, in addition to all their powers otherwise provided <br />for, to revoke or suspend the registration of any contractor approved <br />and licensed hereunder, who shall be guilty of any one or more of the <br />following acts or omissions; <br />A. Fraud or deceit in obtaining registration; <br />B. Negligence, incompetence, or misconduct in the <br />practice of contracting within the meaning of this Chapter; <br />C. Abandonment of any contract without legal excuse; <br />D. Diversion of property or funds received under the <br />express agreement for prosecution or completion of a specific <br />contract under this Chapter, or for a special purpose in the <br />prosecution or completion of any contract or application or use of <br />any other contract, obligation or purpose with intent to defraud or <br />-C- <br />