California Public Utilities Code ARTICLE 3 - Financial Responsibility

• Section 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,...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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 security...
• Section 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 security...
• Section 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...
• Section 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 excess of...
• Section 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...
• Section 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...
• Section 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...

Last modified: October 22, 2018