California Public Utilities Code

§ 5392

PUC § 5392 Effective Jan 1, 2011Div. 2 · Ch. 8 · Art. 4

Statute text

(a)The protection required under Sections 5391 and 5391.2 shall be evidenced by the deposit of any of the following with the commission covering each vehicle used or to be used under the certificate or permit applied for:

(1)A policy of insurance, issued by a company licensed to write insurance in this state, or by nonadmitted insurers subject to Section 1763 of the Insurance Code, if the policies meet the rules promulgated therefor by the commission.

(2)A bond of a surety company licensed to write surety bonds in the state.

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Legislative history

Amended by Stats. 2010, Ch. 472, Sec. 9. (AB 2572) Effective January 1, 2011.