61-6-143. Self-insurers.
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/mt/title-61/chapter-6/part-1/61-6-143·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
61-6-143 . Self-insurers.
(1)Any person in whose name more than 25 motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the department as provided in subsection
(2)of this section.
(2)The department may, in its discretion, upon the application of such a person, issue a certificate of self-insurance when it is satisfied that such person is possessed and will continue to be possessed of ability to pay judgments obtained against such person.
(3)Upon not less than 5 days' notice and a hearing pursuant to such notice, the department may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within 30 days after such judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.