[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: 49CFR387.409]



[Page 301-302]

 

                        TITLE 49--TRANSPORTATION

 

                      DEPARTMENT OF TRANSPORTATION

 

PART 387_MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS

--Table of Contents

 

 Subpart D_Surety Bonds and Policies of Insurance for Freight Forwarders

 

Sec. 387.409  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 freight forwarder is authorized by 

the FMCSA to perform service, or

    (b) In the state in which the freight forwarder 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 freight 

forwarder performs service; or

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

insurer in any state in which business is written, and



[[Page 302]]



will make the designation of process agent prescribed in paragraph (b) 

of this section.



[56 FR 28111, June 19, 1991]