§ 8-21-3-22 — Certificate of self-insurance

(a) The department may, in its discretion,
upon the application of such a person issue a certificate of
self-insurance when it is reasonably satisfied that such person is
possessed of and will continue to be possessed of financial ability to
respond to judgments, as hereinbefore described, obtained against such
person, arising out of the ownership, maintenance, use or operation of
any such person's aircraft.
(b) Upon not less than five (5) days' notice and a hearing pursuant
to such notice, the department may, in its discretion and upon
reasonable grounds, cancel a certificate of self-insurance.
Formerly: Acts 1951, c.267, s.24. As amended by Acts 1980,
P.L.74, SEC.333.