§ 9-25-4-11 — Certificate of self-insurance; cancellation

Indiana § 9-25-4-11

• Jurisdiction: Indiana
• Title 9: MOTOR VEHICLES
• Art. 25: FINANCIAL RESPONSIBILITY

Text

(a) The bureau may, upon the application of
a person, issue a certificate of self-insurance when the bureau is
satisfied that the person making the application is possessed and will
continue to be possessed of the ability to pay a judgment obtained
against the person making the application. A certificate may be issued
authorizing a person to act as a self-insurer for property damage, bodily
injury, or death.
(b) After not less than five (5) days notice and a hearing concerning
the notice, the department may upon reasonable grounds cancel a
certificate of self-insurance. Failure to pay a judgment within thirty
(30) days after the judgment becomes final constitutes a reasonable
ground for the cancellation of a certificate of self-insurance.
(c) The bureau may only issue a certificate of self-insurance under
rules adopted to implement this section.
[Pre-1991 Recodification Citation: 9-2-1-37(b); (c);
(d).]

Legislative History

As added by P.L.2-1991, SEC.13.