§ 24354 Self-Insurance Certificate Cancellation

Key Takeaways

•If you're self-insured, the government can cancel your certificate if they have a good reason, but they must warn you at least 10 days before.
•If you don't pay a court judgment within 30 days, your self-insurance certificate will be canceled automatically.
•This rule was updated in 1969.

Example

Imagine you own a big trucking company and you choose to self-insure your trucks instead of buying insurance. One of your trucks gets into a crash, and the court says you owe $50,000 to the other driver.

If you don't pay that $50,000 within 30 days, the government will cancel your self-insurance certificate. This means you won't be allowed to self-insure anymore and will have to get regular insurance.

Upon not less than 10 days notification of a self-insurer the department may for reasonable cause cancel a certificate of self-insurance and shall cancel such certificate upon failure to pay any judgment within 30 days. (Amended by Stats. 1969, Ch. 138.)

Key Takeaways

•If you're self-insured, the government can cancel your certificate if they have a good reason, but they must warn you at least 10 days before.
•If you don't pay a court judgment within 30 days, your self-insurance certificate will be canceled automatically.
•This rule was updated in 1969.

Key Takeaways

Example

Key Terms

References

§ 24354 Self-Insurance Certificate Cancellation

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References