§ 316 — Self-insurers

New York § 316

• Jurisdiction: New York
• Law VAT: Vehicle & Traffic
• Title 3: Safety Responsibility; Financial Security; Equipment; Inspection; Size and Weight; and Other Provisions
• Art. 6: Motor Vehicle Financial Security Act

Text

§ 316. Self-insurers. The commissioner, in his discretion, may upon\nthe application of a person having registered in his name in this state\nmore than twenty-five motor vehicles, issue a certificate of\nself-insurance when he is reasonably satisfied that such person is\npossessed and will continue to be possessed of financial ability to\nrespond to judgments obtained against such person, arising out of the\nownership, maintenance, use or operation of any such person's motor\nvehicles. Upon due notice and hearing, the commissioner may, in his\ndiscretion and upon reasonable grounds, cancel a certificate of\nself-insurance.\n As a condition to the issuance of a certificate of self-insurance, the\nregistrant shall pay annually in addition to any other fee prescribed by\nthis chapter, a fee of one dollar and fifty cents for each motor vehicle\nregistered in his name and the aggregate amount of such fees shall be\napplied in reduction of the assessment levied pursuant to section three\nhundred seventeen.\n As a further condition to the issuance of a certificate of\nself-insurance, the registrant shall pay annually in addition to any\nother fee prescribed by this chapter, an amount per vehicle to be\ndetermined by the Motor Vehicle Accident Indemnification Corporation\npursuant to section five thousand two hundred seven of the insurance law\nfor each motor vehicle registered in his name and the aggregate amount\nof such fees shall be transmitted by the commissioner to the Motor\nVehicle Accident Indemnification Corporation continued pursuant to\nsection five thousand two hundred three of the insurance law to be\napplied in reduction of assessments levied by said corporation pursuant\nto section five thousand two hundred seven of the insurance law.\n Notwithstanding the provisions of any other section, for the purposes\nof this section, the term "motor vehicle" shall include "snowmobiles" as\ndefined by subdivision six of § 8-0105 of the conservation law.\n