§200.6. Self-insurance
In lieu of the insurance coverage required under R.S. 45:200.4, or permitted under R.S. 45:200.5, the owner of one or more public carrier vehicles may act as self-insurer, provided that he shall have filed, and shall refile annually, with the duly designated authority of the municipality or parish, a financial statement certified by a certified public accountant showing an unencumbered net worth of such owner in excess of one hundred thousand dollars in current assets within the state of Louisiana; and shall also have filed with such authority a policy or policies of liability insurance issued by one or more underwriters or insurance companies amenable to suit in Louisiana, insuring payment of claims for each public carrier vehicle operated by such owner, in the amounts fixed in R.S. 45:200.4 in excess of a maximum of fifteen thousand dollars for personal injury to, or death of, any one person, resulting from any one accident, and, subject to such limit for one person, a maximum of thirty thousand dollars for personal injury to, or death of, two or more persons, resulting from any one accident. The certificate or certificates of such owner shall be effective, and operation thereunder shall be permitted, only so long as the insurance shall remain in force as herein provided.
Added by Acts 1962, No. 404, §1.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.