§ 8-2.1-24-17 — Surety bond, insurance, or other security required

(a) A person may not operate a motor
vehicle for the transportation of property upon a public highway, and
a motor carrier may not be certified, unless the motor carrier complies
with the rules adopted by the department governing the filing and
approval of surety bonds, policies of insurance, qualifications of a
self-insurer, or other securities or agreements.
(b) A surety bond, policy of insurance, self-insurance, or security or
other agreement approved under this section must be of a reasonable
amount and conditioned to pay, within the amount of the surety bond,
policy of insurance, self-insurance, or security or other agreement, a
final judgment recovered against the motor carrier for bodily injuries
to or the death of any person resulting from the negligent operation,
maintenance, or use of the motor carrier's registered motor vehicle, or
for loss or damage to property of others.

Legislative History

As added by P.L.110-1995, SEC.29.