§ 500.124. Liability bond in lieu of insurance policy.
146 words·~1 min read·
/us/cfr/t29/s§ 500.124·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Financial responsibility in lieu of insurance may be evidenced by a liability bond executed as the "principal" by the person who will be transporting a migrant or seasonal agricultural worker, together with a third party identified in the instrument as the "surety", to assure payment of any liability up to \$500,000 for damages to persons or property arising out of such person's ownership of, operation of, or causing to be operated any vehicle for the transportation of such worker in connection with the person's business, activities, or operations.
The "surety" shall be one which appears on the list contained in Treasury Department Circular 570, or which has been approved by the Secretary under the Employee Retirement Income Security Act of 1974 (Pub. L. 93-406). Treasury Department Circular 570 may be obtained from the U.S. Treasury Department, Audit Staff, Bureau of Government Financial Operations, Washington, DC 20226.
Connections1 off-index
1 reference not yet in our index
- Pub. L. 93-406
Citation graph
cites case law
§ 500.124
Liability bond in lieu of insurance policy.
Pub. L.Pub. L. 93-406
Cites 1Cited by 0 across 0 sources