California Public Utilities Code

§ 24358

PUC § 24358Div. 9 · Part 5 · Ch. 3 · Art. 3

Statute text

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 four hundred dollars ($400) for property damage, rendered against the owner or operator on whose behalf the deposit was made, for damages arising out of the accident in an action at law, begun not later than one year after the date of such accident.

(b)Payment of any settlement agreement covering any claim arising out of the accident.

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Legislative history

Amended by Stats. 1969, Ch. 138.