§ 321A.34 — Self-insurers

Iowa § 321A.34

• Jurisdiction: Iowa
• Title VIII: TRANSPORTATION
• Ch. 321A: MOTOR VEHICLE FINANCIAL RESPONSIBILITY

Text

1. a. Any person in whose name more than twenty-five motor vehicles are registered may
qualify as a self-insurer by obtaining a certificate of self-insurance issued by the department
as provided in paragraph “b”.
b. The department may, upon the application of such a person, issue a certificate of
self-insurance if the department is satisfied that the person has and will continue to have
the ability to pay judgments obtained against the person for damages arising out of the
ownership, maintenance, or use of any vehicle owned by the person. A person issued a
certificate of self-insurance pursuant to this subsection shall maintain a financial liability
coverage card as provided in section 321.20B, subsection 2, paragraph “b”, subparagraph (1).
2. a. Any association of individual members that is a legal entity with the power to sue
and be sued in its own name and which is composed of individual members in whose names
a total of more than twenty-five motor vehicles are registered, may qualify as a self-insurer by
obtaining a certificate of insurance issued by the department as provided in paragraph “b”.
b. The department may, upon the application of such an association, issue a certificate
of self-insurance if the department is satisfied that the association has and will continue to
have the ability to pay judgments obtained against the association or against an individual
member of the association for damages arising out of the ownership, maintenance, or use
of any vehicle owned by an individual member of the association. An association issued
a certificate of self-insurance pursuant to this paragraph shall maintain a financial liability
coverage card as provided in section 321.20B, subsection 2, paragraph “b”, subparagraph (2).
3. Upon not less than five days’ notice and a hearing pursuant to the notice, the
department may upon reasonable grounds cancel a certificate of self-insurance. Failure
to pay a judgment for damages arising out of the ownership, maintenance, or use of any
vehicle owned by the self-insurer within thirty days after the judgment becomes final
constitutes a reasonable ground for the cancellation of a certificate of self-insurance. Upon
the cancellation of a certificate of self-insurance, the person who was issued the certificate
shall surrender to the director all self-insurance cards issued to the person.

Legislative History

[C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §321A.34]