[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: 49CFR387.35]



[Page 289]

 

                        TITLE 49--TRANSPORTATION

 

                      DEPARTMENT OF TRANSPORTATION

 

PART 387_MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS

--Table of Contents

 

                 Subpart B_Motor Carriers of Passengers

 

Sec. 387.35  State authority and designation of agent.



    A policy of insurance or surety bond does not satisfy the financial 

responsibility requirements of this subpart unless the insurer or surety 

furnishing the policy or bond is--

    (a) Legally authorized to issue such policies or bonds in each State 

in which the motor carrier operates, or

    (b) Legally authorized to issue such policies or bonds in the State 

in which the motor carrier has its principal place of business or 

domicile, and is willing to designate a person upon whom process, issued 

by or under the authority of any court having jurisdiction of the 

subject matter, may be served in any proceeding at law or equity brought 

in any State in which the motor carrier operates; or

    (c) Legally authorized to issue such policies or bonds in any State 

of the United States and eligible as an excess or surplus lines insurer 

in any State in which business is written, and is willing to designate a 

person upon whom process, issued by or under the authority of any court 

having jurisdiction of the subject matter, may be served in any 

proceeding at law or equity brought in any State in which the motor 

carrier operates.