(1) The Department of Transportation by rule shall establish a system for determining how motor carriers demonstrate compliance with the insurance and bond requirements of ORS 825.160 and 825.162. The system may require certification of compliance by the carrier or the filing of a policy or bond with the department and may require different acts of compliance based on class of carrier or experience. The system shall also specify what acts constitute failure to comply for purposes of revocation or suspension of the carrier’s authority.
(2) No insurance policy or collect on delivery bond furnished under ORS 825.160 or 825.162 may be canceled or otherwise terminated at any time prior to its expiration until the indemnity or surety company or reciprocal insurance exchange which executed the same, has filed with the department a notice of cancellation as provided in such bond or policy. Such cancellation shall be effective not less than 30 days from the date of receipt, and no agreement between the parties thereto shall operate to avoid this restriction upon cancellation.
(3) If any insurance policy or collect on delivery bond required under ORS 825.160 or 825.162 becomes inoperative, the authority under the certificate or permit involved shall cease and be suspended insofar as it pertains to any affected vehicles until an insurance policy or collect on delivery bond meeting the requirements of ORS 825.160 and 825.162 becomes effective and is accepted by the department. [Formerly 767.205]
Section: Previous 825.135 825.137 825.139 825.141 825.145 825.160 825.162 825.164 825.166 825.168 825.180 825.200 825.202 825.204 825.206 NextLast modified: August 7, 2008