[Code of Federal Regulations]

[Title 49, Volume 5]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 49CFR387.315]



[Page 298]

 

                        TITLE 49--TRANSPORTATION

 

                      DEPARTMENT OF TRANSPORTATION

 

PART 387_MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS

--Table of Contents

 

Subpart C_Surety Bonds and Policies of Insurance for Motor Carriers and 

                            Property Brokers

 

Sec. 387.315  Insurance and surety companies.



    A certificate of insurance or surety bond will not be accepted by 

the FMCSA unless issued by an insurance or surety company that is 

authorized (licensed or admitted) to issue bonds or underlying insurance 

policies:

    (a) In each state in which the motor carrier is authorized by the 

FMCSA to operate, or

    (b) In the state in which the motor carrier has its principal place 

of business or domicile, and will designate in writing upon request by 

the FMCSA, a person upon whom process, issued by or under the authority 

of a court of competent jurisdiction, may be served in any proceeding at 

law or equity brought in any state in which the carrier operates, or

    (c) In any state, and is eligible as an excess or surplus lines 

insurer in any state in which business is written, and will make the 

designation of process agent described in paragraph (b) of this section.



[56 FR 28111, June 19, 1991]