§ 370 Indemnity Bonds or Insurance Policies; Notice of Accident
§ 371 Certificate of Department of Transportation in Lieu of Indemnity Bonds or Insurance Policies

Terms Used In New York Laws > Vehicle and Traffic > Title 3 > Article 8 - Indemnity Bonds or Insurance Policies On Vehicles Transporting Passengers for Hire

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.