Oklahoma Statutes
§ 47-7-503 — Self-insurers.
Oklahoma·Title 47 Motor Vehicles
(a)Any person in whose name more than twenty-five vehicles are registered in this state may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the Department as provided in subsection (b) of this section.
(b)The Department may, in its discretion, upon the application of such a person, issue a certificate of self-insurance when it is satisfied that such person is possessed and will continue to be possessed of ability to pay judgment obtained against such person. Such certificate may be issued authorizing a person to act as a self-insurer for either property damage or bodily injury, or both.
(c)Upon not less than five (5) days' notice and a hearing pursuant to such notice, the Department may upon reasonable grounds cancel a certificate of self-insurance. Fail
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Legislative History
Laws 1961, p. 366, § 7-503.
Nearby Sections
15
§ 47-1-101
Definition of words and phrases.§ 47-1-101.1
Ancient vehicle.§ 47-1-102
Arterial street.§ 47-1-103.1
Automobile.§ 47-1-103.2
Autocycle.§ 47-1-105
Bus.§ 47-1-105.1
Church bus.§ 47-1-106
Business district.§ 47-1-107
Cancellation of driver license.§ 47-1-107.1
Class A commercial motor vehicle.§ 47-1-107.2
Class B commercial motor vehicle.§ 47-1-107.3
Class C commercial motor vehicle.§ 47-1-107.4
Class D motor vehicle.