Sec. 11. (a) The bureau may, upon the application of a person, issue a certificate of self-insurance when the bureau is satisfied that the person making the application is possessed and will continue to be possessed of the ability to pay a judgment
obtained against the person making the application. A certificate may be issued authorizing a person to act as a self-insurer for property
damage, bodily injury, or death.
(b) After not less than five (5) days notice and a hearing concerning the notice, the department may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay a judgment within thirty (30) days after the judgment becomes final constitutes a reasonable ground for the cancellation of a certificate of self-insurance.
(c) The bureau may only issue a certificate of self-insurance under rules adopted to implement this section.
Terms Used In Indiana Code 9-25-4-11
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
[Pre-1991 Recodification Citation: 9-2-1-37(b); (c); (d).]
As added by P.L.2-1991, SEC.13.