558.050 Proof of financial responsibility
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558.050 Proof of financial responsibility.
(1)No license shall be issued to any person until the person has filed with the State Department of Agriculture proof of ability to respond in damages for liability on account of accidents arising out of the weather modification operations to be conducted by the person in the amount of $100,000 because of bodily injury to or death of one person resulting from any one accident, and, subject to said limit for one person, in the amount of $300,000 because of bodily injury to or death of two or more persons resulting from any one accident, and in the amount of $300,000 because of injury to or destruction of property of others resulting from any one accident.
(2)Proof of financial responsibility may be given by filing with the department a certificate of insurance or a bond, an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 or a certificate evidencing deposit of money in the same manner and with the same effect as provided by ORS 558.052 to 558.054, 806.080 and 806.270. [1953 c.654 §13; 1975 c.420 §1a; 1983 c.338 §961; 1991 c.331 §82; 1995 c.41 §3; 1997 c.631 §495; 2003 c.175 §13]