Introduced By: Representatives. Voccola and Rose
Date Introduced : February 3, 1998
It is enacted by the General Assembly as follows:
SECTION 1. Section 31-34-2 of the General Laws in Chapter 31-34 entitled "Responsibility Of Owners Of Rental Vehicles" is hereby amended to read as follows:
31-34-2. Maintenance of policies. -- The owner shall
maintain such policy or policies {DEL in full force and effect DEL}
{ADD or provide proof of financial responsibility or self-insurance ADD}
during all times that the owner is engaged in the business of
renting any motor vehicle without a driver.
SECTION 2. Chapter 31-34 of the General Laws entitled "Responsibility Of Owners Of Rental Vehicles" is hereby amended by adding thereto the following section:
{ADD 31-34-2.1. Self-insurers. -- ADD} {ADD (a) Any person or company in whose name more than four hundred (400) vehicles are registered in this state may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the registry of motor vehicles as provided in subsection (b) of this section. ADD}
{ADD (b) The registry may, in its discretion, upon the application of such a person or company, issue a certificate of self-insurance when it is satisfied that the person or company is possessed and will continue to be possessed of the ability to pay judgment obtained against the person or company. The certificate may be issued authorizing a person or company to act as a self-insurer for either property damage or bodily injury, or both. ADD}
{ADD (c) Upon not less than five (5) days' notice and a hearing pursuant to notice, the registry may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within thirty (30) days after the judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance. ADD}
SECTION 3. This act shall take effect upon passage and shall be repealed two years from the date of passage.
