[Code of Federal Regulations]
[Title 49, Volume 5]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR387.315]

[Page 302]
 
                        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]