ARTICLE 3. Financial Responsibility [24350. - 24362.]

Article 3 added by Stats. 1968, Ch. 1452.

§§ 24350–24362 · 13 sections

• § 24350 A policy or bond is not effective under Article 2 unless: (a) Issued either (1) by an insurer or surety company authorized to do business in this state, or (2)…
• § 24351 The policy or bond need not cover: (a) Any liability on account of bodily injury to or death of any employee of the owner or operator while the employee is…
• § 24352 Any person may at any time apply to the department for a certificate of self-insurance, whether or not there has occurred an accident as a result of which he…
• § 24353 The department may in its discretion issue a certificate of self-insurance when satisfied that the applicant is possessed and will continue to be possessed of…
• § 24354 Upon not less than 10 days notification of a self-insurer the department may for reasonable cause cancel a certificate of self-insurance and shall cancel such…
• § 24355 The security required under this part shall be cash or securities permissible under state law as security for deposit of state funds and in such amount as the…
• § 24356 Upon 10 days notification of the parties concerned, the department may reduce, or, within the limits specified in Section 24350, increase the amount of…
• § 24357 Security deposited in compliance with the requirements of this part shall be delivered to the department. The department shall deposit all cash received as…
• § 24358 Such security shall be available for the following purposes: (a) Payment of a final judgment or judgments in any amount for bodily injury or in excess of four…
• § 24359 Every judgment shall for the purposes of this part be deemed satisfied: (a) When fifty thousand dollars ($50,000) has been credited, upon any judgment in…
• § 24360 Whenever any evidence of proof of ability to respond in damages filed by any person under the provisions of this part no longer fulfills the purpose for which…
• § 24361 No insurance policy meeting the requirements of Section 24350 shall be canceled unless 30 days’ prior notice is given to the department by either the insured…
• § 24362 Every person permitting another person to operate an aircraft under the terms of any rental agreement or lease which provides for any remuneration for the use…