"Taxicab" is a compound word formed from contractions of "taximeter" and "cabriolet". Typically, taxi drivers do not charge based on taximeter. Fares are regulated by law and taxi drivers are obliged to use a taximeter. Official taxis have yellow plates with red text and usually use taximeter. The operator owns, maintains and operates the taxi vehicle as well as the taximeter. The fare is calculated on a taximeter that charges by both time and distance.