North Dakota Code 61-04.1-19 – Proof of financial responsibility
Current as of: 2023 | Check for updates
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Proof of financial responsibility is made by showing to the satisfaction of the board that the permittee has the ability to respond in damages to liability which might reasonably result from the operation for which the permit is sought. Such proof of financial responsibility may be shown by:
Terms Used In North Dakota Code 61-04.1-19
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
1. Presentation to the board of proof of a prepaid noncancelable insurance policy against such liability, in an amount approved by the board.
2. Filing with the board a corporate surety bond, cash, or negotiable securities in an amount approved by the board.